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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: blastedwand who wrote (37240)	4/2/2010 9:45:05 PM
From: E_K_S	Read Replies (1) \| Respond to of 78750

Hi blastedwand - Thanks for the clarification. When I asked the teller they had no clue what the sign was all about. My credit union has their insurance with the National Credit Union Association (NCUA), a federal agency which administers the National Credit Union Share Insurance Fund (NCUSIF. They never had a TAG Program. My credit union provides an updated page on their web site showing their STATEMENT OF FINANCIAL CONDITION, links to their annual reports and independent Star Ratings provided by Bauerfinancial Inc. ( starone.org ). Credit Unions are local, generally lend locally and are not very big (but well capitalized) and easy to understand. I can understand their balance sheet and financials. I tried to go through the 10K for Citigroup. It was just too hard for me to understand, the numbers were huge and it was not clear to me where all the different "risks' were. I suspect the average investor does not understand their balance sheet either. It's hard to value something you don't understand. At some point a company gets too big to manage effectively (ie ENRON). Remember when ENRON was referred to as having "Black Box accounting" since the analysts could not follow the cash flows from all their different operations? I would like to see all of the huge Mega Banks broken up into operating geographical pieces. Perhaps we need to look at the credit union model and maybe even have industry overview similar to how local (regional) utilities are regulated. If we eventually get some type of new bank regulation, it must address many of the non-banking activities (derivatives, trading, investment banking etc.). If we don't we will probably experience another melt down. I doubt if Congress has the fortitude to pass anything substantial. Thanks again for the FDIC TAGP clarification. It should have never been necessary in the first place if things were better regulated. EKS