Healthy soil and sustainable growing

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Is this any way to run a farm?


Colo. farmers demand credit help from Ag secretary
http://www.denverpost.com/ci_12344023

Agriculture Secretary Tom Vilsack answers questions during a community
forum at the Morgan County Fairgrounds for farmers hurt by New Frontier
Bank's collapse and others. U.S. Rep. Betsy Markey -- who along with Sens.
Michael Bennet and Mark Udall, have requested USDA funds for farmers --
also attended. (Judy DeHaas | Denver Post)
Farmers and ranchers listen to Agriculture Secretary Tom Vilsack during his
visit to Brush today. (Judy DeHaas | The Denver Post)

BRUSH — Angry farmers and ranchers today demanded help from the federal
government after a major agricultural bank collapsed, forcing them to
renegotiate millions of dollars of loans in less than a month.

U.S. Secretary of Agriculture Tom Vilsack said he freed up $253 million for
operating loans that could help farmers searching for credit after federal
regulators shut New Frontier Bank in Greeley last month, but he added that
it will be up to other local banks to jump in and pick up those loans.

He said banks are still hesitant to provide agricultural loans, despite the
federal stimulus program.

"They've got to get back in the game," Vilsack told about 300 people who
attended a town hall meeting today at the Morgan County Fairgrounds.

Gary Teague, a 42-year-old rancher who runs a cattle-feeding and
heifer-development operation based in Fort Morgan, tearfully told Vilsack
that thousands of farmers and ranchers are desperate after the Greeley bank
collapsed. He said he runs a $50 million business that employs 155 people,
and the Federal Deposit Insurance Corp. has given him 30 days to
renegotiate his loans, or they will be liquidated.

"I don't need a bailout. What I do need is a bank," he said.

Vilsack said he will call bank regulators and "see if we can buy some
time," but he's powerless to order banks to lend money.