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originally posted by: pavil
At least Grassley and Tester have money.
David Valadao (R-Calif) has a net worth of, wait for it......
How do you get THAT much in Debt? His Assets aren't even close to that, who the hell is lending him money?????
Valadao's father established a dairy farm in Kings County, California in 1969. Along with his brother, he became a partner in Valadao Dairy in 1992. He has been a member of the California Milk Advisory Board, Western States Dairy Trade Association, and Regional Leadership Council Chairman for Land O' Lakes.
In March 2018, Valadao, a general partner of Triple V Dairy, was named in two lawsuits against the dairy for defaulting on almost $9 million in loans and for failing to pay a supplier. In June 2018, a bank seized the dairy and sold it off to pay its debts. Valadao stated: "Like so many family dairy farms across the country, burdensome government regulations made it impossible for the operation to remain open."
A bank seized a farm owned by California Rep. David Valadao and his family after they failed to repay $8.3 million in loans.
Court documents show that in November, agriculture lender Rabobank sued Triple V Dairy in Fresno Superior Court for failing to repay the loans, the Los Angeles Times reported.
Valadao is named in the suit along with his wife, four other family members and 50 other unidentifed defendants, along with two other farms, the Times reported.
That is very true. A relative just bought a tractor that was a cool 3/4 million bucks. BTW, his family car is a 1996 S-10 pickup...
originally posted by: carewemust
a reply to: JAGStorm
You'd be surprised how many farmers are "millionaires". Doesn't take much land to have a $1 Million net worth.