I attended a barn party at Wheelan's back about 1991-92. I knew that the BL was a "dicey" proposition from visiting a big show barn in MD (where we bought our first Walker and got my first lesson in how to, and how not to, buy a horse). What I saw that day was truly appalling. I never went back and vowed to avoid the BL world like the plague.
When the BL folks say that ending the present practices might cause great financial hardship they are quite right. One of the consequences will be a gross and dramatic de-valuation of a lot of horses. In an already badly stressed market this will cause real pain. I could make the famous "karma's a *****" observation but I won't.