Foreigners Treated Better

There is an irony in the two articles in the June 17 Business Section: “26,500-Acre Farm Threatened by Foreclosure” says that Bank of America (and Crocker Bank) has taken back much farm acreage and charged off millions of dollars in uncollectable farm loans; “Banks Rescheduled Panama’s $633-Million Debt” says that Bank of America, as lead bank of a 13-member creditor committee for Panama’s debts, will reschedule debts and make new loans.

If our greedy bankers continue their childish games of pretending that foreign debts are valid and continue lending to protect interest payments, while destroying the farming backbone of America, we will, possibly in our lifetime, witness worldwide monetary failure and panic--and possible anarchy and revolution.

EDMUND C. STANLEY

Los Angeles