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As a friend and long term colleague of Bob Hamer, the former CEO of Norlarco Credit Union in Fort Collins, Colo., I have closely followed the chronology of events that have taken place since August 2006 when he became CEO there:

Within a week of his arrival Bob received a Document of Resolution from the NCUA addressing the deeply embedded risk and inevitable financial loss residing within the residential construction loan program Norlarco commenced in 2001. Bob and his team immediately agreed that no new loans should be issued and pledged to work in cooperation with the regulators.

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