By Jim Blaine
Always been fascinated by etymology, haven't you?
To that question, if your first thought was I have never liked "bugs", then we probably need to talk. 'Cause the study of insects is entomology! Etymology is the study of the origin of words and how they are used. Got that? Well if not, just take my word for it....
Your choice of words in speaking and writing - as etymology and entomology prove - can make a lot of difference. How you choose to present or deliver the message within those words is even more important. Words have great force and emotion–potential dynamite. Well-chosen words can stir things up, create excitement, make us think, perhaps even cause us to act. Yep, the pen is mightier than the sword. But you know all that. You've learned to choose your words with care. Better to remain silent and be thought a fool than to speak and remove all doubt, right? Right.
So, what does this have to do with credit unions? Well, the thought arose as I watched the video of the June NCUA board meeting, which involved a lengthy discussion of risk-based capital (RBC). The proposal was to defer the latest rule on RBC for one year to permit credit unions additional time to prepare. Two board members (Rodney Hood, J. Mark McWatters) favored the deferral, while the third board member, Todd Harper, preferred to "chat" about it. Here's where you can watch Mr. Harper's performance ([link] starts at @50.30)
Mr. Harper was clearly well-prepared for the emasculation of NCUA Senior Executive Larry Fazio, which he delivered with little mercy and absolutely no remorse. Fazio probably deserves a visit to the woodshed for the poorly drafted, bit of foolishness which the RBC embodies, but that was not the issue. Mr. Harper wanted to proceed with the rule without further delay. Harper hectored and harangued Fazio for almost an hour - and did so with unconcealed sophomoric self-importance and juvenile glee! (Mr. Harper would have been wiser to follow the axiom above: "Better to remain silent, than... again take a look for yourself [link].)
The End Result
The end result was a 2-1 vote for deferral - and another black eye for the NCUA. Clearly, the McWatters-Metsger era of bi-partisan tranquility, reason, and progress has come to an end. Unfortunately, it appears that he turmoil and tumult of the Matzaniacs, of which Harper was a "leading light,” are with us once again.
But the etymological thought was, what was the root word of Harper? I assume it is "to harp,” to talk or write persistently and tediously - which he certainly did. "To harp" implies, at its worst, to nag, harass and belittle with a certain unattractive smugness - which he certainly did. Look out the "harpies" have returned to Duke Street in farce!
On second thought maybe this should be an entomological discussion...a question of the behavior of bugs and other lower life forms.
Jim Blaine is the former CEO of State Employees Credit Union in Raleigh, N.C.