Originally posted by recapped
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Sure sounds like it.
there is just way too much power in the hands of lenders regarding farmers. this changed in the last while here and this group knows it and is using it.
Predatory lending is when the lender is well aware that they can benefit beyond a reasonable return given a situation
The judges have ruled that input was beyond bad in their methods.
Many on here have thought for a long time this is a group of rich government connected people that know the chances of farmers paying back under whathis it 18%, 30% or 60% interest are slim at best. Meaning the goal is to ultimately take advantage that knowing the farm programs are not working, rail services, lack of own seed use, input prices, fuel prices etc etc have diminished farmers ability and control as well as other lenders limiting working with farm families that there is this idea we ll put this out there and if you grab we ll take you for a ride meaning your farm. Regardless if farmers can pay back or not the interest involved is a lotto win.
In this particular case go through the court process and as we can see not looking very favourable the practices of input so far based on what judges have ruled. Even in the reply and the appeal by input the wording you can tell it's quite a conceded bunch knowing they have buddies in our government at their backs.
And as I said who would send out kneecappers to claim equipment? That all should have been done after a judge decided things shouldn't it?
I hope someone goes back and investigates the predecessor company of when and where this group got money io buy farmland prior to everyone knowing that our government was going to open the doors to foreign ownership??
In my opinion on all of this this is a continuation of the insider play on easy money for farmland based on close ties to our political parties. Jmo!!!
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