Sometimes the truth just hurts
From: Ed Speed
"The accelerating predatory consolidations, along with the self-serving and self-enriching behavior of some CEOs and boards in today’s credit union “movement,” are not aberrations. They are not temporary distortions caused by technology, competition, or a handful of poor decisions by a few outliers. They are a mirror of America.
What is unfolding across credit union balance sheets, boardrooms, and regulatory corridors is an accurate reflection of American society itself: our habits, our anxieties, our evasions, and our loss of moral seriousness. The credit union “movement” has not simply lost its way; it has absorbed and now reflects the national culture that formed it.
The “movement” now sits atop enormous assets and extraordinary regulatory privilege, yet shows a striking thinness where conscience should reside"... [read the rest here - link]
"Quo vadis?" ... abandoning those of "modest means" for the narcisstic, self-importance of "me-first"?
