Farm Credit Restructuring Strategy and Plan for the first 'Agency Debt' Crisis
Led the evaluation and revision of restructuring and 'bailout' plans for twelve of the 37 Farm Credit Banks. The FCBs were the first institutions whose debt was informally backed by the US government who ran into financial trouble, much like Fannie Mae and Freddie Mac. Price Waterhouse was asked to assist them in evaluating the financial plans of the various Banks and advising the Farm Credit national assistance request board on revisions to the plans and their financial projections. I led the process for twelve of these banks. I also developed a funding valuation model that estimated the amount of Federal assistance needed. My numbers were presented to Congress as the official request and were validated by Goldman Sachs, Morgan Stanley and Merrill Lynch.
Posted by Bill Reeves