The Nation - News from Oct. 7, 1986

The House passed legislation to allow the financially troubled Farm Credit System, the nation’s largest farm lender, to stretch out loan losses and the costs of refinancing high-interest bonds over periods of up to 20 years. The move, which has been described by even some backers as a “juggling of the books,” would permit bookkeeping changes that would hide some huge losses. Member banks also would be allowed to set their own interest rates to prevent the flight of their best customers.