Tell Me Why I'm Wrong

Feat. Randy Karnes

NCUA’s Interagency Statement should encourage credit unions to argue fearlessly

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The recently released Interagency Statement Clarifying the Role of Supervisory Guidance is more pablum from agency leaders on Duke St., which will likely conflict with actual examination practices out here on Main St. The history of NCUA communication between national headquarters and the field staff more closely resembles the old party game of “telephone” as any directive flows downhill from D.C.

I hope that more CU CEOs and Boards will fearlessly and forcefully argue for those strategies and solutions that they have created for the benefit of the members they serve that are within the powers granted them but in conflict with “supervisory guidance.” A supervisory agency would prefer that every institution they evaluate look identical, have the same product mix, practice the same pricing strategies, and exercise the same propensity for risk. It makes their supervisory job easier and simplifies the management of an insurance fund that acts more like a “rainy day fund” than real insurance that recognizes and prices the variety and level of risks that credit unions need to assume to meet the needs of diverse, unique and complex fields of membership.

The most common problem experienced by any federally chartered or insured credit union is the inconsistency between what we hear from NCUA headquarters and what we are often told on the local level. I have no doubt that this Interagency Statement will create more than a few conflicting situations in CEO offices and CU board rooms.

What credit unions should demand from their supervisory agency is a level of managerial and communication skills that would make this Interagency Statement unnecessary. Every credit union should be required to be able to fully explain the strategic and tactical reasoning for any product, program and delivery system during the examination process. Every NCUA employee should be equally expected to clearly define the difference between exceptions due to statute or regulation and opinion based on perception. In fact, while I appreciate this explanatory statement to credit unions I think the primary audience for this information should be NCUA staff, national, regional and local examiners.

NCUA clarifies the role of supervisory guidance

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Credit unions handed another tool in the fight against examiner overreach

The NCUA, in conjunction with the other primary financial regulatory governmental agencies, published an Interagency Statement Clarifying the Role of Supervisory Guidance paper on September 11, 2018. This interagency paper provides ammunition to credit unions looking to challenge federal examiner findings, if these findings are based on “guidance” and not “law” or “regulation.”  This paper is likely in response to significant criticism from Congress that federal agencies are regulating through “guidance” rather than through actual regulations or laws vetted or passed by Congress.  The most concrete example of Congressional criticism happened this year when Congress used the Congressional Review Act to abolish CFPB guidance on indirect lending and the Equal Credit Opportunity Act.  This is an opportunity for credit unions to push back on examiner overreach and “regulation by guidance” by citing the Interagency Statement.

The core piece of the Interagency Statement is:

“Unlike a law or regulation, supervisory guidance does not have the force and effect of law, and the agencies do not take enforcement actions based on supervisory guidance. Rather, supervisory guidance outlines the agencies’ supervisory expectations or priorities and articulates the agencies’ general views regarding appropriate practices for a given subject area.”  [emphasis added]

This statement by the NCUA provides credit unions with some significant arguments if  individual federal examiners attempt an enforcement action on a credit union based on supervisory guidance rather than on the actual regulation or law.  There are five areas of clarity provided by the Interagency Statement.  Of these, there are three primary points that can be used to push back against federal examiners:

  • Limit the use of numerical thresholds or other “bright-lines” not supported by regulation.  The use of these thresholds should be examples and not suggestive of requirements.

Example:  A well-capitalized federally-chartered credit union with $30 million paid-in and unimpaired capital surplus as of its last year-end report is in the process of loaning $250,000 to a CUSO.  An examiner says the credit union should lower the amount of the loan to $150,000 due to “risk.”  That threshold is not supported by Section 712.2 of the Code of Federal Regulations, which limits the total loan amount to 1% of unimpaired capital or surplus (or $300,000 in this example).

12 CFR 712.2 – How much can an FCU invest in or loan to CUSOs, and what parties may participate?

…

(b) Loans. An FCU’s total loans to CUSOs must not exceed, in the aggregate, 1% of its paid-in and unimpaired capital and surplus as of its last calendar year-end financial report. Loan authority is independent and separate from the 1% investment authority of subsection (a) of this section.

  • While federal examiners remain free to identify “unsafe or unsound” practices, examiners are not to criticize a financial institution for failing to follow supervisory guidance.

Example:  A credit union is criticized for not using the FFIEC Cybersecurity Assessment Tool.  The FFIEC’s own FAQ states that the Cybersecurity Assessment Tool is not mandatory.  This could form the basis of a challenge to the examiner’s finding.

2. Does my institution have to use the Assessment? No. Use of the Assessment by institutions is voluntary. Institution management may choose to use the Assessment, or another framework, or another risk assessment process to identify inherent risk and cybersecurity preparedness. The FFIEC released the Assessment as a voluntary tool that institution management may use to determine the institution’s inherent risk and cybersecurity preparedness.

  • Public comment on supervisory guidance does not mean that the guidance is intended to be a regulation or have the force and effect of law.

Example:  The most obvious example was overturning the CFPB’s Bulletin “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act.”

  • Aim to reduce multiple supervisory documents on the same topic.
  • Encourage credit unions to discuss supervisory questions with their appropriate NCUA contact.

As with any resistance to examiner findings, executive management and the Board’s willingness to engage, history of the credit union’s safety and soundness, and demonstrated meeting of the membership’s needs will all influence the success the credit union may have.  This letter from the NCUA and other agencies simply represents another tool available to credit unions and CUSOs concerned about examiner overreach.

Approval seeking is not a positive leadership trait

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Why social media and the hunt for Likes and approval is likely to derail future leaders

If you were to ask past leaders in our industry—or any industry for that matter—most are likely to agree that hunting for approvals in an echo chamber is a trap. So how do you coach a new generation of leaders that are growing up in a world where social media reigns?

Future leaders do not need to be “liked” or garner approval as their strongest talents—they need to hone their skills as learners, influencers, and debaters of value. I am not sure that social media does any of that for most of its participants. Can you really learn anything from tracking manipulated, advertised opinions and Likes via social media today? How do we push our leaders to ensure that they are building the talents and drive to build learning organizations and voices that can inspire all of us to benefit?

Being a lifetime student does not come from being agreed with, it comes from the challenges of opposing viewpoints and then creatively learning to reconcile that dissent. When you are fearful of rejection, you will insulate yourself and your beliefs and ideas to the point that learning stops and talents wither. But this is not a new problem; we see it in organizations that do not share their business plans with members, who no longer believe the market cares about their hopes for cooperative ownership, and who have shifted to the idea that consumer acceptance and Likes about the nuances of today’s financial service tactics are more important than what separates us from look-alike-competitors who sell the same nuances.

While the term “echo chamber” may be approaching overuse, it is one that the credit union industry should recognize as not a new problem. As the agents of our credit union member-owners, we have created our professional and third-party commentator echo chambers since the first day we pushed our volunteers out of the operations. The CUNA system, the regulatory system, and other vendor organizations have isolated our conversations and taught us to accept the status quo limits of our influence and debate. We hunted for acceptance and the positive feedback of like-thinkers-like-relationships for decades until we accepted the doctrine of our credit union industry to be worth its weight on our entrepreneurial hopes or innovative thrust towards member-owner potential.

So, we do need to guard ourselves from accepting and pushing our future leaders into an even bigger acceptance of the social media echo chambers that are too consumer-focused and manipulated by network managers way beyond our control or influence. We need to encourage future leaders to think critically, hunt out dissent, and look for the teachings that come from debate and alternate ideas. We need them to hone their skills at negotiating with ideas counter to their own and influence the future from what they learn.

We need to highlight where we fell victim to wanting the Likes of the NCUA, the molds of our trades, and the limited scope of our agreements with each other, and challenge them to debate and learn from the energy of disagreement on the way to new ideas implemented. Tell Me Why I’m Wrong.

NCUA’s slow, self-serving march towards examination modernization

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They are more content with reinventing the wheel and spending than learning from the industry

In a recent letter to federally insured credit unions, McWatters and the NCUA outlined some examination modernization initiatives. My first reaction was one of bewilderment at several of their statements given my interactions with both NCUA personnel and state regulators in the last few months.

We have been in multiple conversations and presentations with various NCUA staff and administrators for several years about exam innovation and implementation strategies. There has not been a single case in which we were not politely heard out and then, just as politely, blown off. They seem to feel that collaboration with those they regulate would be a waste of their valuable time and unlikely to add any value to their own intellectual and institutional superiority. From my many meetings and contacts with NASCUS leadership, it is certainly clear that the NCUA holds its state regulatory peers in the same regard.

At a recent update on the ESM initiative they revealed that a major component of their initiative, the Credit and Deposit Analytics Solution, would be delayed due to a lack of off the shelf vendors with a ready to use analytical tool that meets their specs. Their research of their fellow FI federal regulators has revealed that those organizations have built their own custom software for this purpose and that the NCUA will, of course, follow their banking cousins and pursue this custom build path as a new strategy.

Not having been allowed to see the 2017 RFP for this entire project, we don’t know in any detail what the specs for this tool are, but we had shared and shown both McWatters and the Exam Flexibility Committee chaired by Keith Morton, back in 2016, the earliest versions of Analytics Booth (then My CU Today), which we were told did represent the kind of analytics capability they would be needing in the future. Since then, when I bring it up I’m rebuffed. Now I don’t know if we even would want to be federal contractor, but you’d think they would at least reach out to learn more about our efforts. Personally, I think they like spending our members’ money more.

At the same time, we showed them what we had done with Wisconsin regulators to facilitate a test of remote examination tactics by using Virtual StrongBox. Few know that the agency has been on the hook for a September 2015 recommendation of the Inspector General to start using a secure FTP in their examination protocol. Even though their response to the IG in 2015 was that they would have such a tool by year-end 2015 and then later by year end 2016, it has yet to be implemented. The letter described above promises a release of a secure FTP later this year after further testing. Imagine that your credit union had an outstanding audit exception for close to three years! Especially one concerning data security! I’ll believe that they have a working model to move member data securely when I see it.

I congratulate Keith Morton on his test of virtual examination strategies in Region 4, but really, a reduction of onsite exam time by 35% should be unacceptable. There should be no excuse for not being able to remotely review everything from high-level institutional data to individual digitized records like member loan files.

Lastly, unless something has changed in the last three weeks, my contacts with NASCUS have indicated that to this point they have had no formal or continuous input into the ESM initiative (including the AIRES re-write) and any development of FLEX, the Office of National Examinations and Supervision (ONES) Data-Driven Supervision or Virtual Exam Protocols. There was a joint meeting of NCUA and NASCUS regulator board members at the NASCUS State Summit just 3 weeks ago. I’ll be checking if, as the letter might suggest, there has been a long and deep working relationship between the parties, when it has seemed to be 180 degrees opposite of that type of brotherhood.

We’ll be continuing to watch this activity closely and as NCUA makes changes to their exam protocols, we will be making sure that credit unions can leverage those changes to lower their cost compliance. I’m calling on credit unions to let their representatives know about your concerns regarding this waste of money in the name of progress. Tell Me Why I’m Wrong.

What is showing its age more, your board members or your board approach?

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Be careful what you ask for—younger board members might not like what you’re selling

You want younger board members, you can’t handle younger board members! Or replace the word “younger” with some other characteristic you’re looking for: more business savvy, more technical, more mission-based, more member-focused, etc. The bottom line is… have you changed your approach to teaming with board members as a resource to be more?

How young is your approach? Is it a carryover from when your current board members were 33 years old? You might have changed from paper reports to digital ones on a tablet, but are they the same reports? You might have changed the order of the board sections, but have you really changed the board content? You might have moved from a Tuesday evening to a Thursday, but have you added or reduced the number of meetings you have per year? You get the point.

It’s tough, scary, and an uphill battle with traditionalists to upset the apple cart, but when you do bring in new board members, even one by one, the traditions are what you teach, not what they demand. Are you the reason that your credit union makes old souls out of every board member you attract?

Often when I meet 80-year-old-plus board members I find that they have stuck around not because of what is happening now, but because they remember what happened when it was “fun, rewarding, and real” for them as volunteers. They remember when they were part of building the credit union, not just rubber stamping someone else running the joint.

And right there is the key to how you need to make young board members feel today. They need a job, a purpose, and a role from their perspective not yours, not the NCUA’s, and not from the perspective that the place is on auto-pilot.

As a CEO, whether with 50 or 5000 employees, it can seem that you too are watching a business operation that is on auto-pilot when you think about the Monday to Friday operation. You can feel that you are supervising the operation and a board is a redundant asset helping you oversee something that cannot afford anymore supervision. So, you already feel marginalized, and you might be doing that to your board without even realizing it.

Just like you, they need to build something, to sense that they own something, and that their skills are important to something. Renew those feelings in your board and it won’t matter how old they are! They will engage what is being built, they will take interest in what they own, and they will get the pride of being important to it all.

Shift from blaming generational issues on your board and tackle the generational stagnation of your organization’s approach to the value of owners and their volunteering. Build something, if not just enthusiasm, and you will see a change. Tell Me Why I’m Wrong!

Why do we count on CEOs for success?

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Work hard to listen to the crowd, but CEOs are still the key ingredient

For over a decade, I’ve invited credit union CEOs from across the country to come to Grand Rapids and attend a CEOs-only event involving learning and discussion—and they’ve been greatly successful. A day and a half of teaching, and a full day of round table discussion (during which I did my best not to dominate the conversation!). We’ve had great conversations on the hot topics of the day, from compliance to service income, learning from peers, building businesses, and putting data into action. We talked a lot about the things we wanted to do or should be doing. Outspoken CEOs and I implored credit unions to listen, and to act. Some have, but many haven’t.

A couple years ago I introduced a different kind of event—boot camps for solution builders and data-minded individuals. These have also been eye opening for me, and we found CU designers across the network who were eager to come in and not just talk about what we should be doing as a CUSO, network, or industry, but to have their hands in the bread making. We’ve built tools and features together that our credit unions are now using today or will be using in the future. In many cases, however, the individuals in attendance, although eager to help build and implement solutions, didn’t always have the power at their own credit unions to make change happen.

So when it came time to start thinking about our annual CEO event, I recognized that credit union CEOs have the responsibility of being the intersecting point between what the CUSO should do and what CUs will do with it. Unless CEOs do their job for both sides of this question, we’ll never effectively match solutions with the efforts of CUs in our network. If credit union owners are the heroes credit unions need to survive long term, CEOs represent the owners of our credit union industry, and we need them to take ownership of its success. Not all CEOs need to be active. And the same CEOs don’t need to be active every time. But we need a healthy community so that there is a material group of CEOs active at the right times.

With that in mind, we made the decision to change what was a popular teaching and roundtable event into a more intensive boot camp experience where CEOs won’t just talk about what they want, but will take part in the strategic development of that future. In our case that means helping design new products and services for the future of our credit unions, but the same should apply across the entire credit union industry. Credit union CEOs need to be the heroes we count on to attain the future we want for our industry. Tell me why I’m wrong.

Trusting the work to capture the attention of owners is worth it in today’s credit union world

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Momentum is picking up around the idea of being more aggressive in developing an ownership community as a key credit union strategy and tactic. The more CU professionals see that it takes active owners (pioneers) to start and sustain credit unions, and passive owners (the indifferent) to end them, the more they are seeing active owners as the heroes in their credit union’s story. Add to that the growth of data and demographic tactics in CUs and who knows… maybe categorizing and cultivating members who think and act like owners might even be a long-term trend in CU operations going forward.

Only fly in the ointment? It takes work, and as we know in credit union land these days very few people trust the tact that work and sustained efforts are worth it without a clear ROI. It’s an accounting thing, or maybe an underwriting thing, but it just seems like credit unions want the black and white ledger calculation telling them it’s ok to expend the effort or risk their members’ money on such things.

And here is where it all falls apart. We will spend all kinds of “at-risk member’s money” to attract a potential consumer to our products. We love the high of a purchase, or a “yes” to our service and revenue generating products. We love the black and white accounting of something offered, something taken; there is a buzz in the value exchange. Consumers’ money, attention, affirmation, etc. for our corporate offerings. So why don’t we have something to sell consumers to be owners? Something that gave us all a buzz – something that said the consumer gets it! So we would get it.

We need to craft a different future, even if it is only for the credit union professional’s benefit. Members understand that ownership generally comes with a “transaction”, but the $5 par deposit as an ownership transaction just is not cutting it anymore. It’s forgotten as soon as it’s done; just the cost of opening an account. What then? How do we make ownership real in the minds of members, and beyond a simple one-time exchange? Stock?

Either way, an active ownership community within our overall member community is an asset! That asset has been undermanaged for years if not decades as credit unions have fought to develop their consumer communities. It may take a revolution related to data analytics to shine a light on the demographic and the value of these members, but as more and more CUs face moments when only an “owner” can make the difference, I hope it is not too late to do the work to turn the tide for many of the credit unions who are learning the difference between agents, consumers, and owners! Tell me why I’m wrong!

Not a peep on the NCUA Inspector General’s recent report

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What does it take to get our attention?

Did any of you notice the damning NCUA Inspector General report released on March 14 addressing the audit of NCUA’s Comprehensive Records Management Process? I dare say that any federally chartered or insured credit union that chose to ignore NCUA regulations to the degree that the NCUA staff did with the Federal Records Act of 1950 and the regulations of both the National Archives and Record Administration and the Office of Management and Budget would be facing serious censure. Any credit union executive would probably lose their job if they further knew about these shortcomings for over a five year period and not only failed to take corrective action but also seemed to be less than forthcoming about these failures to the agency board over a similar period of time.

The IG audit covered a period of 2012 to 2016.  It was mid-year 2017 before the NCUA Board approved development of a full-time division within the Office of General Counsel (OGC) to manage day-to-day activities of records management and January 2018 before management issued a records management policy that addressed current federal laws and regulations. The prior six years, under the authority of the Office of the Chief Information Officer (OCIO), the audit is a story of misplaced priorities, ignorance of federal laws and regulations, obfuscation of the failure to act, and ineptitude in system development. Can you imagine an agency email system which is required to retain emails but lacks the capability to easily search, identify or retain those emails? Here is an especially descriptive quote from the IG audit:

“As shown throughout our report, decisions made by NCUA management to address records management requirements negatively affected the agency’s implementation of sound records management program.”  (“Audit of NCUA’s Comprehensive Records Management Process”, pg. 8)

Here’s another addressing intra-departmental communication:

“Specifically, we found that executive management did not timely or accurately update the NCUA Board on records management, offices did not effectively communicate with each other, and management gave limited guidance to staff on how to handle records in the conduct of their day-to-day duties.”  (Audit of NCUA’s Comprehensive Records Management Process”, pg. 10)

So that you can place this limited sampling in the proper context of the total report, I suggest you go to the NCUA website for the full report. One warning, you will not find this report prominently highlighted on the front page of the web site.

There’s an APB out for CUNA and NAFCU

Every bit as concerning as this audit should be to all of us, I am just as shocked by the lack of attention to the audit paid by our well-staffed and well-funded functionaries at our advocates CUNA and NAFCU. Try a search of “2018 NCUA IG Reports” on the websites of both and you’ll come up empty.  Not a word of concern from the guys who are supposed to be paying attention to the goings on at NCUA on our behalf. Must not have been a big deal to them that the same agency that just stuck their federal finger in our eye and grabbed billions of credit union capital in the distribution of the TCCUSIF, all in order to grow the pot of funds available to pay for the ineffective management highlighted by the IG. Do we really expect that the same OCIO that couldn’t keep track of emails should be trusted with the $25 + million budgeted for the ESM (Enterprise Solutions Management) initiative? Who’s keeping an eye on our federal agency and holding them accountable? Tell me why I’m wrong.

Check out this exchange between Randy Karnes and Susan Mitchell

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A conversation on innovation, collaboration, and CUSO executive compensation

I recently attended an Underground Collision session at the 2018 NACUSO Network Conference during which Susan Mitchell, CEO of Mitchell, Stankovic & Associates, and I discussed many topics ranging from innovation to CUSO executive compensation. Check out this excerpt from our exchange and be sure to check out the full article at the Underground website.

Sue:  Credit Union Service Organizations were started by credit union leaders as a for-profit, entrepreneurial endeavor to add value to members and generate income! Think of the early days of CO-OP, PSCU, CUSG, CU Direct, Shared Branching and CU*Answers. These collaborative efforts started some of the largest, most successful business ventures in the credit union industry and have returned significant dividends to the original investors, not to mention the impact on credit union owners and charitable causes. Is this true today or have they have become competitive ventures that may distract from the credit union mission?

Randy:  I always think of CUSOs as being started to expand the powers of credit unions. CUSOs created the ability to diversify the cooperative tactics and expand on the idea that if a community owned a cooperative venture then they should have the chance to leverage it for even more value. Why have a one-trick-pony venture? If we can do this, why not that. Cool idea. Now the natural extensions usually come in two flavors – financial service extensions or emulating vendor solutions from non-CU owned entities. But the spirit of the design to DO MORE with your cooperative owners is a cool idea.

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What helps you sleep at night might be the very thing guaranteeing your demise

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Is our trust in the power of the NCUA, our need to be compliant, and our faith in old designs the reasons our results leave us with a shrinking existence?

Recently Chip Filson emailed me wondering where to go next with his series on the NCUA’s management of the Temporary Corporate Credit Union Stabilization Fund and distribution. Good work, strong arguments, and passionate about the need for all of us to push to right the wrong in the way history will record this solution. It most likely has run its course, and Chip was wondering how to sum it up, push it forward, or reconcile all of that work against the dismal response from our industry. And while I have seen some recent angst when CU CEOs compare their refunds to their lost investments for the bailouts, I imagine that this episode will go down to “it sucks, but it’s how the world works.” I thought I might share my response to Chip with you.

“Chip, I hate that I am writing this, but like you I wonder – will your diligence pay off here or is the machinery (NCUA’s propaganda efforts) going to roll on by as the parade watchers (credit union stakeholders) turn their attention to new attractions? There is probably not a good reason to expect action from anyone in the CU industry and a tiring reader base, so who could you appeal to that might want to make a stink about this at a higher level? Government watch dogs, a higher-level player who wants to point out sins of past administrations or solutions, etc. Most likely no one. I believe we should now think more about the future. How can you stage this not to be just about righting the past (NCUA mismanagement), but to be more about changing things today for the future? Who might want to be on the NCUA board and sees this mess as a campaign plank for their election/selection?

I remember the day my father told me that he and my mother did not have control over the world and how it would treat me. It struck me that maybe I was smaller than I ever realized in relation to everyone else around me. I could not appeal directly to the powers that shaped my world; I did not have a voice that was easily heard by those who could ignore my hopes and dreams; I was afloat and the concept of control of my own destiny seemed a child’s fairy tale.

It is possible that the credit union industry will one day face the same “in your face” awakening about much of what is fears and embraces about the NCUA and regulations as a motivator and comfort. It will see that false hopes in the NCUA, our insurances independence, and our government’s backing of cooperatives. Will it crush us or free us? Will we go silent for a lack of thinking anything will change or will we search harder for the right people to influence and push for what we need? Will we be even less likely to push the edges of design or debate with examiners as powerless messengers of a system without representation or will see the need to agree to disagree and act to shape new destinies with our consumer-owners?

Without a doubt the real powers in our industry already understand the false hopes of counting on those who really are not empowered to change things. The winners in our industry already see that “going along to get along” with directors and NCUA messengers fits their short term existence, but there is a potential that one day the rest of the industry will awaken to the idea that compliance with someone else’s ideals for what they should be is only a suggestion, not the iron clad, all empowered design for success. It is time to reach for more, time to jump the track and push for a new regulatory approach.

We need to elect or influence the election of NCUA directors. NCUA director candidates must be able to declare platforms that they believe in, and will work towards. We need an agency that has a CEO who can lead the agency and work with directors. We need a functioning entity with cause, vision, and something more than a governmental employee’s hope for a long-term job and a pension. We need a future where the industry understands the boundaries that both constrain us and foster us – the boundaries that we evolve with an agency willing to be transparent and communicative on par with their expectations of us.

And while much of this seems like a fairy tale’s outline for change, I would rather work on that than suffer working through fooling myself that the current design of the NCUA will ever yield different results.”

Wow! Looking back I managed to vet a whole lot of stuff, include mom and dad’s teachings and fairy tales… but did I say anything that will inspire Chip to push credit union leaders to act differently? Can we change our behaviors in response to recognizing through our faith in these systems we have adopted bad habits that need to change:

  • Over capitulating to external powers
  • Over paying for compliance without searching for not needing to comply–both rules and the peer pressure of “best practices”
  • Put seat warmers on a pedestal without examination, and accept committees as leaders over our vision empowered
  • Over trust group think and under trust their community’s needs – their local membership needs
  • Count on others more than we count on ourselves

I know all of us like to go to sleep thinking that while we sleep the good guys are on duty and through their powers of control we have nothing to worry about, but I am quite sure that we all need to rethink trusting the NCUA’s powers to fix things will suffice. We overpaid for the Corporate Crisis and will for every crisis if we do not. Tell me why I’m wrong.

P.s. Most nights I do not sleep because I know that my world is safe in the hands of those in control, I sleep trusting with faith in the fact that every day members have goals that inspire our efforts, our work, and our hopes. There is freedom in trusting chaos and yet unrealized success.