Submitted by Hardscrabble Farmer
They still use the words farm and farmer, but that’s not what these people are- they are industrial agriculture operations. They both engage in certain sets of practices that seem similar on the surface, but everything else about them is distinctly dissimilar. One is a steward of the land and everything on it, the other is a strip miner of natural resources. I find it amusing that after yet another round of deliberate banking decisions to suck landowners into debt positions based on economic projections devised by computer algorithms, they find themselves sucking hind tit yet again.
Go big and get screwed.
Wall Street banks bailing on troubled U.S. farm sector
CHICAGO/WASHINGTON (Reuters) – In the wake of the U.S. housing meltdown of the late 2000s, JPMorgan Chase & Co hunted for new ways to expand its loan business beyond the troubled mortgage sector.