The Nation - News from Sept. 18, 1986
The General Accounting Office said it is inevitable that the financially strapped Farm Credit System, the nation’s largest farm lender, will need a federal bailout and that the government should plan for that assistance in advance. The system’s financial surplus could be exhausted before the end of 1987, the GAO said in a report released by the House Agriculture Committee, which planned a hearing today. The farmer-owned system lost $2.7 billion last year and expects to lose $1.7 billion this year.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.