Congressional Republicans should introduce legislation to authorize a low-cost loan program (with a 0.5% interest rate) for farmers who have significant amounts of money frozen at MF Global. This loan program would finance purchases of seed and other supplies that farmers need immediately to produce next year's food supply. This program would be an all-around political winner for the GOP and would certainly receive bi-partisan support.
As a nation, we need to limit the damage from MF Global's collapse right now and prevent that damage from spreading into food inflation. The GOP needs to move on this right now, if they haven't already introduced this legislation.
John Corzine: the Poster Child for Global Starvation
Are you serious?
Just part of the Plan, first you make everybody dependent, for housing and medical care, Now you control ALL THE FOOD AND WATER THEY NEED TO SURVIVE. Just a matter of time til they reintroduce the Farm Bill making it a FELONY to GROW YOUR OWN FOOD. Yes there is a Bill that does this and it has been introduced quite a few times and loses by one or two votes only in committee.
Who is John Galt?? Me, anyday now.
$200,000? Ouch! But his money is gone and it’s not coming back, at least not to him.
I agree, but what good is it going to do for the GOP Congress to act on this when Dirty Harry will just sit on any and all bills submitted to the Senate for approval? It’s not like the DemocRats WANT Americans to have enough food produced locally.
Just sayin....
Congressional Republicans should introduce legislation to authorize a low-cost loan program\
It is going to get worse. MF is just the first to fall.
What happens if BOA goes belly up, and then they start clawing back the money from normal banking customers?
Sorry, not buying it. For that to be true, it means that every year someone gets stuck with less desireable varieties of seed.