Here’s a commentary from Rose Oswald Poels, CEO of the Wisconsin Bankers Association, where she states allowing credit unions to do business loans would “…add to the deficit."
No matter what the color of the sky in Ms. Oswald Poels world one thing is certain. She doesn’t like credit unions. Ms. Oswald Poels and her banker cronies don’t like the fact that all the members of the credit union own the credit union. And, they don’t like the fact that, because all the members of the credit union own the credit union, it’s called a cooperative. Banks don’t like cooperatives, either. Unless, of course, the bank is lending money to the cooperative – then the cooperative is OK. But credit unions are never OK to Rose Oswald Poels and her banker cronies.
And that’s OK, too – she can do and say what she wants. But not when you start spreading lies and innuendo. Implying that by allowing credit unions to do that which banks aren’t ready or don’t want to do will cause the federal deficit to go up is a lie and a reach. Remember, Rose – not one tax-payer dollar has ever gone to save a failing credit union. We don’t have enough time to detail how much tax-payer dollars have gone to saving failing banks. Banks that are too big to fail. Banks that took TARP money. Banks that took TARP money and have yet to pay it back.
Finally, Ms. Oswald Poels suggests that if credit unions want to lend to businesses, they should – wait for it – convert to a mutual savings bank. An amazing coincidence in that Rose and her banker cronies at WBA and, yes, Republican legislators, a couple of Democrats who should know better and the Governor, all pushed for and passed legislation that makes it easier for credit unions to convert to a bank just months ago. Legislation credit unions, their members and legislators that DO know better opposed.
People – you can’t make this stuff up.
Read and smell what Rose Oswald Poels is cooking. Then vote. And then, share this with your friends on the Interwebs.