You're outta here....
.... so far the Senate has refused to play ball. Bottom of the ninth, two outs, full count - pray for rain !!!! *
... Supporters (you know who!) may get called out for unsportsmanlike conduct !
* Be sure to take another look at the May 10, 2023 post to see why this will be an important "W" for North Carolina credit union members.
Suddenly seem to have found an angry flock of friends in California, who haven't overlooked what the SECU Board did.
Can't blame them, can you? [mean by "them" the California folks, not "this Board!]
| Filed: WesCorp Complaint |
From: A CEO of a California Credit Union Which Suffered Large $$$$ Losses At Wescorp
Date: 2023 at 11:10 AM
Subject: Filed: WesCorp Complaint
Jim-
WesCorp was placed into conservatorship by the NCUA in March, 2009.
I participated in the attached lawsuit filed November, 2009 vs. WesCorp.
The NCUA intervened and took over the lawsuit.
Jim Hayes was the Senior Vice President & CFO at WesCorp at the
time and was among the defendants.
By 2008 MBO's *[see below] represented 37% of Corporate CU investment portfolios.
At WesCorp it was 80%. A reckless negligent gamble.
He was the CFO. He was there. He was at board meetings. He was at
ALM meetings. He drank the Kool-Aid.
Now look at him.
Never Shocked. Just Disappointed. The NCUA should have barred him
from continued credit union employment.
The CEO
----- Original Message -----
Sent: Tuesday, November 24, 2009 1:34:49 PM GMT -08:00 US/Canada Pacific
Subject: Status Update: WesCorp Complaint
Gentlemen -
The complaint has been sent for filing by our local counsel, David Parisi. When the file-stamped copy of the Complaint is returned from Court, David will circulate a copy to each of you.
FYI - I will be off the grid tomorrow through Sunday. Have a nice Thanksgiving, everyone.
Regards-
Deborah
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