Molonsky,You articulate your thoughts very well. I strongly...

Molonsky,

You articulate your thoughts very well. I strongly disagree with the notion that continue to pay will get any result. Yes, the payments are tax deductable but the capital repayments are not. and eventually one has to repay the capital outlay as well. I was in cattle for 200k, fully paid for. My question is a simple one: Wouln't i be better off being on a loan with respect to the cattle. At least I would have som leverage compared to my current situation with zero leverage.

Additionally to my point previously made: If all growers stop paying - the banks have a twofold problem: 1) massive administrative and legal effort 2)Massive negative publicity.

The banks have bought the debt at 30+ cents on the dollar. This leaves a united grower front room to negotiate. It also weakens the bank's claims that they could not know about the problems. Otherwise they would not have paid 30+ but 100 cents.

I've stopped paying and wait for the phone call....





got screwed but will try my best to recover as much as possible