I fought against the use of TARP funds and my side won. If Dan Mica's side had won, credit unions would have been included in the administration plans for financial institution reform.
I am glad Mica did not get his wish for TARP funds, and he should be praising credit union leaders and volunteers who have the guts to fight against TARP funds and go against his leadership on this issue.
I believe Mica doesn't see the irony here and the very dangerous path he was trying to take credit unions down. It would be good for him to admit he was wrong. The consequences of following his leadership would have been dire for credit unions in many ways if we could have received TARP funds. Great leaders admit mistakes, learn from them and go forward. Myopic leadership is not what we need during this period of time. But if Mica begins to see the error of his ways, fine. If not, changes need to be made quickly.
Dennis A. Fisher
Imperial Employees Credit Union