Nate Wilson had an op-ed in the Buffalo News yesterday, in which he accused federal regulators of "whistling past the graveyard" while the U.S. dairy industry collapses.
Middletown, N. Y., cattle dealer Joe Distelburger, relates: “I spoke to a Western N. Y. bank lender with Farm Credit last night, who anticipates 20 percent failures from his accounts in the next 90 days.”
Wilson estimates U.S. dairy farmers' losses in 2009 at around $14 billion. By comparison, that's about what Bernie Madoff's investors lost.
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