Word: farmers
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...loss was the largest ever suffered by a U.S. financial institution. But the victim was not a big-city bank with billions of dollars on loan to Mexico and Brazil. Instead, it was the Farm Credit System, a farmer-owned cooperative of 37 banks and 522 credit associations that makes agricultural loans. The F.C.S.'s 1985 deficit of $2.7 billion, reported last week, far surpassed the record $1.08 billion loss suffered by Continental Illinois bank...
...Reagan administration has passed "the most expensive farm bill in history that does the least," Kelley says. She says that present farm policies are helping large "corporate" farmers more than they help the individual farmer. "We've subsidized corporate farming the most which has needed it the least," Kelley says...
Kelley expresses a Jeffersonian concern for the survival of the small farmer. "I see us destroying a way of life, destroying one of the most critical segments of the foundation of democracy," she says...
Kelley says that the American farming system has been "touted as an example to the world as the best of democracy and the free market system." To allow the individual farmer to disappear would send a message to the rest of the world, Kelley says, and could influence farm policy in China, the Soviet Union, and Eastern Bloc countries...
...seeks a balance of party affiliation, geography, and interests among the fellows, says Donovan. Four of this spring's six fellows group are women, one is a farmer, and one is a Republican...