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Title: Growing Crony Capitalism - Export/Import Bank Post by: WhiskeyGirl on May 15, 2012, 08:57:30 AM Export/Import bank is new to me.
Quote ...It began in 1934 as a way to help U.S. companies sell to the Soviet Union, where getting paid was often a dicey proposition. In recent years, it has mostly financed and guaranteed loans on U.S. exports. ... Starting in 2009, Obama ordered the Ex-Im Bank to favor green projects — and to give no money to any energy project that involves fossil fuels. Women and minorities also get loan preference. Is this "pro business"? Obama has even more changes in mind for the Ex-Im bank — including letting it make loans to domestic firms that don't even do business overseas. Quote "Past beneficiaries include such upstanding enterprises as Solyndra and Enron," Republican Rep. Tom McClintock of California said last month, in opposing the bill. "Since 2007, almost half of its money has gone to support that plucky little startup called Boeing." As an example, McClintock cites Ex-Im's $5 billion gift to Air India to buy Boeing jets, enabling it "to undercut (U.S.) carriers like Delta with their own tax money." What money is Obama investing in Mexican and Brazilian state oil companies? More jobs for Americans? Obama's path for American prosperity? Who's paying the bill? http://news.investors.com/article/611078/201205101907/ex-im-bank-renewal-gives-bipartisanship-a-bad-name.htm?ven=OutBrainCP (http://news.investors.com/article/611078/201205101907/ex-im-bank-renewal-gives-bipartisanship-a-bad-name.htm?ven=OutBrainCP) Why isn't Obama running for Office in India? Mexico? Brazil? No pipeline for America? |