CoBank Loans Meant for Co-ops Support Another Private Telecom Company
The Farm Credit System’s (FCS) record of loans to huge telecommunications companies leaves most observers confused, and for good reason. Why is a government-sponsored enterprise (GSE), which was established to furnish sound credit to farmers, extending enormous loans to Verizon ($725 million), US Cellular and AT&T ($425 million) and Frontier Communications ($350 million)?