If that were the case, how would you secure that? How would we as the government secure that asset? If the bank isn't willing to give up any priority...I'm assuming that in a situation like this you're going to see the bank put priority on the land, on the tractor, and on whatever machinery, and now you've given away priority to the bank on the actual asset, the livestock itself. How does the government secure priority? How does the government ensure it gets repaid? Again, being responsible to taxpayers--if I'm going to lend you money, I have to see the ability of repayment down the road. How do I see that?
On November 30th, 2010. See this statement in context.