Word: beltings
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Rural banks have long been respected and profitable cornerstones of small farming towns. Now, however, many of the lenders have become both unwilling villains and victims in the grim drama unfolding in the American farm belt. Caught between their sympathy for the farmers' plight and their own fight for survival, banks have had to foreclose on loan after loan. But in many cases the foreclosures have not prevented banks from failing. Says James McDermott, senior vice president of Keefe Bruyette & Woods, a Wall Street investment firm that specializes in bank stocks: "The farm-belt mom-and-pop banks...
...Texas Gulf Coast area. Now even Jay Anderson, 57, whose grandfather came to Texas from Illinois 87 years ago to build a highly successful farm operation, has lost money for two years in a row. "I've never seen so much gloom and doom in the rice belt," he says. "There's no light in the tunnel...
...Exon of Nebraska. E. ("Kika") de la Garza, the Texas Democrat who heads the House Agriculture Committee, sneered that what Stockman was really saying was "Let's cut off the arms and legs of the patient. Then he'll be 30 lbs. lighter and less of a burden." Farm Belt Republicans were equally outraged. Senator Charles Grassley of Iowa, in a letter to Stockman, asked him to "please refrain from sermonizing on the free market, which seems most hypocritical from a Government that has been the root cause of the current farm-economy crisis...
...five years / before they would be completely wiped out." Meanwhile, those farmers are in no position to buy tractors, cars, clothes or much of anything; their troubles are dragging down the whole economy in Iowa, Nebraska, northern Missouri, southern Minnesota, western Illinois, Kansas and other parts of the grain belt...
...Chevy Chase, Md, native blocked one shot, giving him five for the year. With 33 minutes of action under his belt, Mohler is averaging a team-high one block per every five and a half minutes played...