You know how so many of the corporate CEOs and bankers and just about anyone else who got bailout money used a chunk of it for pygmy giraffes small enough to keep as pets and ride around the house, or whatever it is you spend money on when you've got more of it than God, and how this righteously pissed off every taxpayer? We're not saying anything like that's going to happen at the U.S. Central Federal Credit Union in Lenexa, but considering today's news we'd like it if someone kept an eye out just the same.
According to a couple of news sources, the Kansas credit union received $1 billion Wednesday as part of the latest move to prevent us all from becoming nomadic tribes concerned only with securing canned goods and irradiated produce. The cash injection was necessary because the credit union posted a $1.1. billion loss in 2008. Like just about every other economic problem these days, the officers are blaming this on the collapse of mortgage investments.
The most concise description we've read of the U.S. Central Federal Credit Union is that it serves as a clearinghouse for the credit union network. It's the largest wholesale credit union.
If they use our money for anything other than staying solvent, we agree to turn a blind eye to whatever mob justice Lenexans choose. You've been warned U.S. Central.