The Banker lobby’s exploding cigar

If you listened real, real close yesterday you could hear the buttons popping off Kurt Bauer’s shirt as he puffed out his chest and stretched to pat himself on the back.

A panel had recommended – among other things – that credit union corporate income should be taxed to simplify the tax code and “level the playing field,” a term suspiciously akin to words the banking lobby has used for years.  Well, you can imagine the excitement at the Wisconsin Bankers Association, the lobbying organization for bankers.

Rather than take shots at KB and the banker lobby as I’m often wont to do, I’ll stay focused and provide the links to the Wisconsin Banker Association press release and the Wisconsin Credit Union League response.  (The Wisconsin Credit Union League is the trade association for Wisconsin’s member-owned credit unions.) 

Just answer two questions, Kurt:  If credit unions have it so good, why don’t more banks – hell – why don’t ANY banks convert to a member-owned credit union?  Instead you want to punish the member-owners of credit unions by taxing their income 

Why?

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I have a dream

It’s indeed a free country and Glenn Beck can do whatever he wants in DC today.  But anyone who thinks he’s doing this “show” for any reason other than ratings, self-aggrandisement, books sales, gold sales or whatever, is foolish. This guy was once the member of a “morning zoo” radio show. He’s just gussied up the presentation a bit.

No, the real sin here is that this show is happening at the scene, on the date, of one of the greatest speeches of all time. You can sell Glenn Beck’s dream any way you want and it’ll still be a sham – and a shame. Hold it anywhere but here. Hold it under the big top where it belongs.