tag:blogger.com,1999:blog-319775530671726401.post9130248214217757037..comments2023-10-01T09:18:26.162-04:00Comments on Keith Leggett’s Credit Union Watch: NCUA Tapped Line of Credit at Treasury on July 27Keith Leggetthttp://www.blogger.com/profile/14794334790117033547noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-319775530671726401.post-90305693050864381722011-09-22T13:39:33.727-04:002011-09-22T13:39:33.727-04:00By the way, credit unions are paying the same trea...By the way, credit unions are paying the same treasury rates as the FDIC as it has the right to borrow $20 billion I believe for its fund. That is in addition to the bailouts referenced above in addition to the $150 billion back in the 1990s that credit unions (as members of the FHLBs) are helping to repay. <br /><br />I will take our Chevy Luv backing up to 1500 Pennsylvania Ave vs. the banks' using 18 wheelers to get their cash.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-47646102058303954302011-09-21T17:37:25.809-04:002011-09-21T17:37:25.809-04:00GAO looking at NCUA is a mere distraction, as the ...GAO looking at NCUA is a mere distraction, as the bank regulators eat their regulated.<br /><br />This summer, the FDIC authorized lawsuits against 266 officers and directors in an effort to recoup more than $6.8 billion in losses stemming from the credit crisis. An additional 172 residential malpractice and mortgage fraud lawsuits are pending.<br /><br />Meanwhile, the Federal Housing Finance Agency (FHFA), as conservator for Fannie Mae and Freddie Mac, just filed $196 billion in lawsuits against 17 mostly FDIC insured banks and certain of their officers. The suits allege violations of federal securities laws and common law.<br /><br />Net difference is potentially another $190 billion in bank losses to potentially be covered by taxpayers, and eventually added to the embarrassing total above. Bailouts? Ha!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-38433319813607533612011-09-21T16:37:27.103-04:002011-09-21T16:37:27.103-04:00No later than 1 year after the enactment of the le...No later than 1 year after the enactment of the legislation.Keith Leggettnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-71869127891972927792011-09-21T16:27:38.180-04:002011-09-21T16:27:38.180-04:00Keith.
when is the GAO investigation of the NCUA d...Keith.<br />when is the GAO investigation of the NCUA due to be released?<br />As I recall, GAO was asked by congress to investigate the CCU situation and PCA on NPCU.<br />Do you have any information on this?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-30112155984224831032011-09-21T09:12:06.836-04:002011-09-21T09:12:06.836-04:00Actions within statutory framework at no cost to t...Actions within statutory framework at no cost to taxpayers is not a bailout. And the amount is small, nearly invisible, compared to banks'<br /><br />$700 billion in capital injections<br />$200 billion in bad-for-good collateral swaps<br />$208 billion in loss absorption asset guarantees<br />$3.74 Trillion in discounted liquidityAnonymousnoreply@blogger.com