Quote:
Originally Posted by elysiantraveller
Then why the hell hasn't he?
Answer: Because USA Today Opinion Writers aren't exactly qualified to give legal political advice.
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The article talks about selling USDA loans as commercial paper. There are two kinds of USDA loans, direct and guaranteed. Direct loans are loans of USDA money, usually with very low interest rates and very long terms. Rates are as low as 1% and terms are as long as 38 years. Hardly attractive as commercial paper, and I question that the USDA has legal authority to sell them. The other loans are from private lenders and are guaranteed by the USDA. You can't sell a loan you didn't make.
