Whew, that was a cliffhanger! So come the news:
Why I pick on ExIm Bank is because it is so small and the issues so clear that there is no mistaking what is going on. It is corrupt, it picks winners and losers, it loses money at a breathtaking rate, and it exists to pick winners and losers, reward friends and punish enemies. The fact that even the benighted USA airlines cannot make a dent in it proves there is nothing evil in government that can be ameliorated. The USA will end before the ExIM bank ends. Because of the Ex Im bank, the USA will end. No wonder so many peoples on earth so fear democracy and capitalism. It is love of money, the root of all evil.
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A pair of senior lawmakers are proposing the first bipartisan legislation in the House this year to reauthorize the Export-Import Bank and impose new requirements intended to protect taxpayers.Wait, what? That is the problem? Waste fraud abuse? Just fix that, and then it is OK? And wait, I thought it turned in hundreds of millions back to taxpayers... how could there be any risk to taxpayers? Which is it?
“This legislation contains a responsible set of reforms that we believe will strengthen the Export-Import Bank and lay the groundwork for a bipartisan agreement that extends the bank’s charter over the long term,” Ms. Waters said in a statement.Because in the past 90 years, the ExIMBank has had an irresponsible set of rules, which will now, for the first time, be fixed. Never mind the harm done buy having billions with which to pick winners and ruin losers. The problem has been in accounting and loss reserve itssues (again, if it only makes money, why the loss reserve?)
It’s not clear whether the lawmakers’ proposed changes to the bank would be enough to win over its fiercest critics in Congress. Many conservative Republicans, including the panel’s chairman, Rep. Jeb Hensarling of Texas, want to wind down the bank, saying it interferes in the free market and exposes taxpayers to too much risk.Yes, the fiercest ctitics. Whose only concern is whether they have something which which to horse trade when the deal gets to their hobby horse. Thank goodness the republicans will take over the seante next time. We can always count on them to curb democrat waste and abuse!
The bank would also have to evaluate how well it is equipped to deal with employee misconduct and develop a policy for reporting fraud or corruptionYes, finally, we can ask the bank to rate itself on handling corruption. That will work out well.
“The Export-Import Bank’s support of U.S. businesses is an example of how our government can facilitate job growth without adding to the national debt,” Mr. Miller said. In fiscal year 2014, the bank sent $675 million to the U.S. Treasury, money it earned from interest and fees.So says the Republican defending small business, freedom blah yada blah against democrat tax-and-spend liberalism yada blah yada.
Why I pick on ExIm Bank is because it is so small and the issues so clear that there is no mistaking what is going on. It is corrupt, it picks winners and losers, it loses money at a breathtaking rate, and it exists to pick winners and losers, reward friends and punish enemies. The fact that even the benighted USA airlines cannot make a dent in it proves there is nothing evil in government that can be ameliorated. The USA will end before the ExIM bank ends. Because of the Ex Im bank, the USA will end. No wonder so many peoples on earth so fear democracy and capitalism. It is love of money, the root of all evil.
Feel free to forward this by email to three of your friends.
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