Quote:
Originally Posted by Big Grey Wolf
209, You seem to have some detailed info on NAFA failure. Just wondering if you can explain the "Deffered funds" with mink farmers putting under a 350 year Hudson Bay spin off company for us trappers.
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pretty sure thats been discussed and explained many times in the past month. Long story short nafa gives mink ranchers huge loans to finish off mink with expectation that they get paid back plus interest once the mink sell. Mink sell for less than what is owed, ranchers declare bankruptcies and nafa dont get paid. Eventually the bank says no thanks to much risk to loan you money or allow a line of credit etc and boom here we are. 100% not cibc fault. Why do you think no other bank or lender would touch them.