Hi Fred-
In light of the experiences of a recent NAFCU AWARD WINNER - I would like to recommend not only the prestigious NAFCU Plaque but also a $10,000 legal defense gift card. The gal in Florida could sure as heck take advantage of such a gift card. Thinking outside of the box maybe just a non-descript $10,000 gift card would be more appropriate. I am thinking with Tom Glatt unemployed and another recent NAFCU WINNER - he could probably use such a gift card - at least he does not need it for legal defenses.
I am just thinking with the recognition of these NAFCU Awards - it seems to bring bad luck, too. In the most unlikely event I am nominated I hereby decline to be inducted into the hall of shame. Give the recognition and shine the light on Bob Siravo or Bob Burrell.
On that note have a great rest of your day.
I think the same person sent a similar note to the President regarding the NCUA nomination from the CDCU while having their ATM outages in the high 6 figures.
TOOOOOOOOOOOOOO funny!!!!! Let's get those backgrounds (or at least look at their real estate transactions.... How many houses were walked away from, while the cu was holding the loan?) checked first and the awards presented later folks. There are some really damaged resume's out there.
Even though WesCorp is now officially dead.... you won't see too many references to time spent at that shop or on their board, any time soon on a resume. Talk about how not go get a job! "Hire me, I sunk WesCorp and cost your credit union umpteen $Million in assessments". Yep, that'll get you hired!
Nope these folks won't gain employment from the credit union payroll. Instead they will do the next best thing. They will become credit union vendors. Maybe sell your credit union on ALM - Asset Liability Management consulting. Maybe your credit union will hire them to audit the credit union investment portfolio. Maybe hire these folks to consult with you on (ERM) Enterprise Risk Management. Heck they probably have all those fancy high priced WesCorp Investment Policy Books - with a little cut and paste and for a modest fee they will customize it with your very own credit union name. Yes, these people are a creative group. For a fee they will educate your credit union on CHECK-21 direct with the Federal Reserve, too. You are only limited by the amount of cash you have in your vault. They hold out as consultants - key word here is CONsultants. Frankly, they are insult-ants.
ReplyDeleteAdam Denbo
ReplyDeleteManaging Consultant
adam.denbo@ssamaha.com
(855) 772-6242, ext 3030
This is the worst web-site blog-site in the world. Eat your heart out folks. Mr. Adam Denbo is a former defendant in the NCUA lawsuit against WesCorp Federal Credit Union. Mr. Denbo was elected to the WesCorp Federal Credit Union Board of Directors. The NCUA fired all of the WesCorp Federal Credit Union Board of Directors including Mr. Denbo. Mr. Denbo is now a managing Partner with Samaha Associates. Mr. Denbo was dismissed from the lawsuit. Mr. Denbo is no longer employed as a credit union CEO. Mr. Denbo is available to consult with your credit union. A modest fee is required. The transaction will require an exchange of money for services. This is not to be confused with prostitution where an exchange of money for services is also required. In the second instance you get screwed with a kiss. With a consultant you don't get the kiss.
How about BOB BURRELL - formerly Executive Vice President / Chief Investment Officer at WesCorp Federal Credit Union. The NCUA placed WesCorp FCU into Conservatorship. The NCUA fired Bob Burrell. WesCorp FCU capital losses exceeded $2 Billion. The NCUA is prosecuting defendant Bob Burrell in a federal court lawsuit. Bob Burrell is now a managing partner at RiskSpan
ReplyDeleteWhile at WesCorp FCU Bob claims responsibility and takes credit for:
Instrumental in establishing WesCorp as the premier provider of investment, liquidity, financial risk management and payments systems products to credit unions. Member balances grew more than 250 percent over last 11 years to a 2008 peak of $25+ billion. 2 BILLION in Member capaital balances were wiped out, exhausted and extinguished after being placed into NCUA Conservatorship. Bob forgot to mention that minor fact.
Bob's Specialties
US experience spans commercial banks, thrifts and credit unions as well as mortgage banking and broker/dealer activities:
Asset/liability management
Managing retail deposit and consumer loan portfolios
Fixed income portfolio management
Hedging and trading activities in listed/OTC derivatives
Fixed income/money market trading
Public debt issuance
Asset securitization
Managing MSRs and mortgage pipelines
Foreign exchange trading and arbitrage
Bob has learned a lot from the expensive lessons at WesCorp FCU. Bob is now available to consult with credit unions in order to enhance investment income earnings. How do you say CMO? Can you say private label MBS? Remember a toxic waste hauler/trucker can find value in toxic waste. Maybe you can too.
So you see there are endless opportunities for former WesCorp FCU employees, management and directors.
The only ones dumb enough to buy consulting services from former officials of WesCorp are the future former members of WesCorp.
ReplyDelete