I wonder how many were struck by the irony when Dan Mica thanks President Obama for keeping the NCUA independent when just a short time ago he was asking for TARP funds just in case of an emergency. I fought against the use of TARP funds and my side won. If Dan Mica's side had won, credit unions would have been no doubt very included in the administration plans for financial institution reform.
I am glad Dan Mica did not get his wish for TARP funds, and he should be praising the credit union leaders and volunteers who have the guts to fight against TARP funds and go against his leadership on this issue. I believe Dan Mica doesn't see the irony here and the very dangerous path he was trying to take credit unions down. It would be good for him to admit he was very wrong and the consequences of following his leadership would have been dire for credit unions in many ways if we could have received TARP funds that he fought for (great leaders admit mistakes, learn from them and go forward).
Myopic leadership is not what we need during this period of time. But if Mica begins to see the error of his ways fine, if not changes need to be made and quickly.
Dennis A. Fisher, President/CEO
Imperial Employees CU, Lincolnwood, Ill.