MF Poor: Every single person I would call a BTO around me here has played fast and loose with the rules the rest of us live by.
Here are some of the better examples:
1) This one and his brother farm 6000 acres now. Fifteen years ago they built a new dairy barn and some how got all the debt against their father's farm, not the farm the dairy was on. Then they went out and put new tires on their Pickups and had their fuel tanks filled. Then the next week they all filed Chapter 12 bankruptcy. The various banks and small businesses got clean out to the tune of 2.8 million dollars. The father still got to keep his home farm. The sons got to keep the dairy even thought they sold it just as soon as they could and miss paying any back to the creditors.
2) The local one that really burns me up. He drove cash rents sky high in the late 1970s around here. He was the first to pay $100 an acre rent around here. He made sure his early contracts all had fall pay on the cash rents. So when things went sour in the mid 1980s he filed for Chapter 12 right before all of his rents where due. The landlords where all unsecured creditors and got nothing for the use of their land that year. He and two others broke our local farm Coop. He took them for $100K in fertilizer and feed.
He now is farming over 4000 acres. Just about every one of his landlords is from out of state. He really can talk a fine game. He is a pure con man. He is the one pulling the acres not being there trick on the dumber landlords. He also does not put fertilizer on the rented ground the last year. So when he is done it is shot.
3) One really large one to the west of me. HE is the one stirring up the rents with my son's friend. He and his two sons are farming 15,000 acres. They all drive new pickups and live in brand new 500K homes. He declared Chapter 12 bankruptcy an took Federal land bank for almost five million dollars and some how ended up not losing the ground in the late 1980s. I was on the board and got to see the write off that Federal land bank had to take on that person.
So MF Poor I guess I am jealous of these crooks. I could have went out and bought things that I never could have paid for and then played fast and loose with the bankruptcy laws an owned more things. I guess I am the sap for just working hard and paying for all of my stuff. I guess I should be like the BTOs here and see how much I can swindle legally out of a few banks and Coops.
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