just saying I totally disagree with fna

[bucket]

FNA won't own the cwb. There are bigger fish looking at it.

This the government making it sellable and burning through the billion in guarantees.

That money would be better spent on the average farmer for a better tax rule on storage since none of the graincos want to build it and the cost is coming to the farm.

[CptnObvious]

Yes, I always thought it would be Cargil. They were first with a delivery deal.

[bucket]

At the very least the value of the cwb is a billion considering that is what the government has thrown at it.

It will be bought for pennies on the dollar.

[redleaf]

Just finally got a minute to grab some lunch,(leftovers from last night and very good too!!)
I have to put my two cents in and comment on buckets post. If farm credit writes down loans on overpriced land purchases again I will come unglued and its not just me!! Talk to some guys that got shafted last time around while others got golden hand shakes, rent free for years and new loans for pennies on the dollar, and the talk turns to violence.

[bucket]

We all know its happened and FCC or other lending institutions has just rubber stamped the same guys for massive buys.

Matter of a fact some have the kids working at &&& to loan to the numerous companies they have created. And the kid is pilfering through files to get dad go to outbid offers they seen at the office.

The institution won't fire them. Nioce hey.

[Oliver88]

Redleaf and Bucket - Are you guys referring to the infamous Land Bank disaster?

[redleaf]

No thinking more about the overpriced land in the early eighties that &&& lent money for and then when &&& had too many defaults they didn't want to dump land on the market, back room deals were made for some where they paid no rent for years and then the land was refinanced at much lower purchase price and never was allowed on to the market. Special plan for anyone stupid enough to keep up with their payments .... Shut up and keep making your payments.

[redleaf]

Land bank deal was another whole can of worms but was a little more open to public scrutiny.

[Oliver88]

I agree 100% with you.

Yes a lot of bad managers who over payed for land were helped out and favoured over good fiscal managers.

It would be interesting to see stats on how many of these managers eventually went broke and how many are still in business?
A RM map from the mid to late 80s will show which land was taken over by FCC.

[Hopperbin]

Thanks for all the posts. My main point thinking is farmers are not.going to henefit from farmers buying the cwb.. best thing is if cwb makes it on their own. With no one to buy them out they will serve farmers and not so much share holders. This is what we need to keep the cwb. There can be more here than just a buy out. Does anyone else see it?