On the recordApril 30, 2008
These prices that everybody talks about, if you are a real farmer out there and goes to your elevator, you cannot get a contract at these prices. And if you really want to do something here on this floor that will do some good, it would be to keep this Wall Street hedge fund money out of the commodity market, which has run these prices up and created a bubble. People need to remember that these direct payments came about because of high prices, quote, back in 1996. We heard the same speeches. That is how we got these direct payments in the first place. And what happened? It collapsed. And I will tell you one thing that I know about farming, is that whenever you have good prices, farmers are very good at creating low prices, and they will do it again. And that is why we need a safety net.
Source
govinfo.gov
