In 1987, the Farm Credit System was bailed out by US taxpayers to the tune of $4 billion. At the time, the FCS was worth $40 billion. Today, the Farm Credit System is worth $321 billion; if FCS needed another bailout, it would cost taxpayers $32.1 billion – an 802% increase from 1987.
If the Farm Credit System were a bank, it would be the 7th largest in the country – and nobody seems to notice. Its tax advantages, unparalleled access to taxpayer-backed credit, and lack of regulation often leave it as the only source of credit in rural areas.