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Panhandle of Ne. | Figuring a profit from crop insurance is a recent event. I've been actively farming for 45 or so years and a farmer, at least in the areas I farmed in, took crop insurance as a method to "try" and cover COP should a disaster occur. But, take back to back to back crop failures and sometimes more years than that, then add in low market prices, wells going dry etc. and a person might not have any other choice than bankruptcy to stay in business. Lots of folks weren't around in the 70's 80's. I've know some excellent managers/farmers that had to use a legal tool called re-organization, bankruptcy, to try and stay in business.
So, if a farmer used re-organization under the afore mentioned circumstances, they should go to jail? If that were the case, there are thousands of CEO's of companies that filed for re-organization that should be in jail. Not at all trying to make this political, but one of the candidates that is running on the republican ticket wouldn't be running if that was the case. As long as it is a legal tool that is available to businesses, it will be used. Is this tool taken advantage of? Sure it is as are many other programs that are legal in the eye of the law. Just look at the food stamp program for instance. | |
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Bankruptcy or jail?
