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Don;t know if anybody's seen this

http://www.cnbc.com/2016/01/15/reuters-america-fearing-wave-of-bankruptcies-us-corn-belt-wants-new-d...

 

Push to raise the cap on Chap 12 bankrupcty from $4M to 10.

 

As I'll probably just be accused of all sorts of self serving hypocrisy, I won;t offer an opinion. A few observations though-

 

- to save those poor struggling young farmers with assets over $4M?

 

-as a matter of broadre public interest there is plenty of capacity out there even if some of it goes away- the ground's going to get farmed and I'd even think rents wouldn't even come down as much as you'd think if you don't count the high priced contracts that would get cancelled

 

-the multinational agribiz corps have a lot of exposure there, mostly as unsecured or second/third lien creditors. Since they write Ag policy anyway, well, I'm thinkin'.

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