QUOTES WORTH QUOTING
--George Frerich, chairman/CEO of The Frerichs Group, a merger consultation firm, on the proposed merger of Space Coast Credit Union and Eastern Financial Credit Union.
"We cannot go back to an economy that is built on a pile of sand--on inflated home prices and maxed-out credit cards, on over-leveraged banks and outdated regulations that allow the recklessness of a few to threaten the prosperity of us all."
-President Obama during last week's news conference.
"Many lawyers spent many hours reviewing this presentation and writing the legal disclaimers that you see filling the screen behind me. Let me boil what they say down for you: you can't have a copy."
--Wayne Best, chief economist for Visa USA, explaining to credit union card executives attending Card Services For Credit Unions' 20th anniversary annual meeting why they would not be allowed to take a copy of his presentation home with them.
"Fire!!! Kenneth Lewis. Fire!!! the board of directors. Clean sweep."
--The legend on Judy Koenick's T-shirt as she arrived at the Bank of America shareholders meeting last week.
"I recently led a Webinar for the California league on foreclosures and loan modifications, and judging from audience questions, credit unions need to make sure they're valuing loans properly. Proper valuation is necessary to make proper business decesions. I think a lot of credit unions take a look at the accounting treatment and don't want to do it because it will make their financials look bad. But avoiding it will only make the situation worse."
---Matthew Davidson, CPA