Mr. Speaker, due to factors beyond their control and a predatory banker, Marlin Farms find themselves in jeopardy. This is a deliberate concerted effort to drive my constituents into bankruptcy.
The Toronto Dominion bank attack dogs know nothing about agriculture and the dire straits the industry is in. Their idea of working with Marlin Farms is to take half their line of credit and arbitrarily put it in an overdraft account at 21% interest. To add insult to injury, the remaining $125,000 line of the credit is being lowered by $10,000 a month and added to the 21% overdraft. On top of that, the Toronto Dominion Bank charges Marlin Farms $10,000 in bogus bank charges for lawyers, accountants and consultants.
This nightmare for Marlin Farms has been exacerbated by the finance minister, the Minister of State for Financial Institutions and the Canadian banking ombudsman who all refuse to act.
This legalized loan sharking has to be stopped.