6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The NCUA Board will vote on its final risk-based capital rule during its open meeting today. If approved as proposed, the rule is expected to take effect Jan. 1, 2019.NAFCU has consistently opposed this rulemaking and urged withdrawal, and it has strongly urged the agency to consider the impact the rulemaking will have on the credit union industry – in particular the regulatory burden and costs it will impose on an already extremely well-capitalized industry.NAFCU continues to work in support of H.R. 2769, a bill that would require NCUA to review RBC2 and report back to Congress on the agency’s authority to issue a two-tier, risk-based-capital rule and the impact it would have on credit unions and their members.Earlier this month, that bill cleared the House Financial Services Committee in a bipartisan vote of 50-9. Its sponsors, Reps. Stephen Fincher, R-Tenn., Bill Posey, R-Fla., and Denny Heck, D-Wash., urged NCUA last week to voluntarily undertake the study before moving forward on RBC2. NCUA Chairman Debbie Matz said in a letter Thursday that the agency will submit a report on RBC2 issues “shortly after” the board meeting today. This week, House Financial Services Chairman Jeb Hensarling, R-Texas, wrote NCUA Chairman Debbie Matz noting the committee vote and urging again that the agency not move forward with a final rule before further study can be done. continue reading »
You may be there awhile. And, when pressed for a response, be ready with an appropriate line, such as, “I’m sorry. Was there a question in there?”Learn to swat imaginary flies and squint as if you notice a spider on the head of the inquisitor.Anyway, Booker may have been the most wincingly awful to watch, but he is by no means the only Democratic White House hopeful jockeying to position himself or herself as the most liberal, the most outraged, the most synthetically sincere of 2020 contenders.Booker’s pinwheel-eyed fulmination takes its place alongside similarly shameful rants from Sens. Bernie Sanders and Elizabeth Warren, Democratic National Committee Chairman Tom Perez and other liberal one-uppers stumbling over themselves to prove their anti-Trump bona fides.They may think they’re feeding their Democratic base — after all, social media has turned anti-Trump outrage into an industry — but there are two problems with this assumption.First, even the most rabid anti-Trumpists want substance from their Democratic candidates, and Booker and others have produced none.Second, in their lemming-like scramble to the fringe, Democrats are abandoning the sensible center, where most Americans live and the position from which they wish their lawmakers to govern. The pain and drama of it all was just too much.And it’s only January. The first presidential primary is more than two years away.Booker’s rant is only an early taste of many more to come from an increasingly clamorous field of Democratic presidential hopefuls.The Democratic Party is lurching irreparably to the left and has nothing to offer voters in 2020 other than outrage over Trump’s latest tweet and the resuscitation of tired policies that would return a booming U.S. economy to the stagnant Obama years.It’s too bad Nielsen couldn’t have punctuated Booker’s rant with a well-played stage yawn, giving his self-serving jeremiad the treatment it deserved.Over the next two years, more Cabinet officials will be testifying before Congress and the Democratic Outrage Machine will pounce with their rehearsed lines and faux outrage.Pro tip to the unlucky witnesses: Bring reading material. For months, I have written about the Democratic Party’s dangerous lurch to the left.Beginning with support for the Sanders-backed promise of universal health care, Democrats are now in the position where the only way they can distinguish themselves and prevent an onslaught of attacks from their progressive base is to take on and embrace increasingly polarized leftist positions and a continuing stream of anti-Trump venom.Even the liberal New York Times has taken note with the recent headline on an article by Sheryl Gay Stolberg, “Senate Democrats Make Hard Turn Left in Warming Up for 2020 Race.”The fact that Democrats are abandoning any notion of compromise and refusing to appeal to independent and moderate voters should come as no surprise.The party has been hijacked by radical voices from within, and what we are seeing now is only the beginning of what is to come.Ed Rogers is a political consultant and a veteran of the Ronald Reagan and George H.W. Bush White Houses and several national campaigns. More from The Daily Gazette:EDITORIAL: Find a way to get family members into nursing homesEDITORIAL: Beware of voter intimidationEDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Thruway tax unfair to working motoristsFoss: Should main downtown branch of the Schenectady County Public Library reopen? Categories: Editorial, OpinionAnybody who watched the clumsy histrionics of Sen. Cory Booker, D-N.J., at last week’s Senate grilling of Homeland Security Secretary Kirstjen Nielsen had to feel a little sorry for him.His overacting was on full display before the Senate Judiciary Committee and TV cameras.Booker posed, pretended, preened and generally made a fool of himself shouting at Nielsen about President Donald Trump’s latest inexplicable comments regarding immigrants from certain parts of the world.In releasing his almost-comical wrath, Booker’s performance was so awful and cringe-worthy that I actually felt embarrassed for him.He even copped to weeping “tears of rage.”
French cable manufacturer Nexans has been awarded a contract by Equinor to deliver umbilicals for Troll Phase 3 development located offshore Norway. Earlier on Tuesday, Equinor submitted its plan for further development of the gigantic Troll field on the Norwegian continental shelf to the Ministry of Petroleum and Energy. The project entails capital expenditures of around NOK 7.8 billion.Equinor also said it would sign contracts for the project within marine installations and subsea facilities worth a total of approximately NOK 750 million with the companies Allseas, Nexans and DeepOcean.The initial development was carried out over two phases, and now Equinor is starting the Phase 3 development to recover the large amount of gas resources in the western part of the field.Separately, Nexans said on Tuesday that its role in the project would be to provide a total of 27 kilometers of complex umbilicals with power, fiber-optic and hydraulic elements for the next development phase of the Troll Phase 3 project.Phase 3 of the Troll project covers the development of the Troll West structure, which lies in water depths of approximately 330 meters and is located 25 kilometers north-west of the Troll A platform. The subsea production systems will comprise two subsea templates or manifolds, as well as nine trees. Each manifold is expected to have four well slots. A total of eight production wells will be drilled and tied-back to the Troll A platform in order to recover the gas reserves. First gas is expected from the project in the second quarter of 2021.For the Troll Phase 3 development Nexans Norway will design, manufacture and supply static umbilicals that include high voltage power elements, high-pressure hydraulic lines, low-pressure hydraulic lines, a MEG (methanol and glycol) service line for chemical injection, a spare line and fiber-optic communications – all within a single cross-section. A 20 kilometer umbilical will link the Troll A platform to Template W1, while a 7 kilometer umbilical will then link Template W1 to Template W2. The contract also includes the supply of connections, terminations and other umbilical accessories.Nexans noted it offered Equinor a total ‘made in Norway’ approach to the contract with the electrical and fiber optic elements manufactured at the Nexans Norway facility in Rognan, North Norway, while the complete umbilical system will be developed, manufactured and tested at Nexans Norway plant in Halden, Norway.Nexans is scheduled to deliver the Troll Phase 3 umbilicals in the first quarter of 2020.