Saturday, October 11, 2014

Ex Im Bank Mendacity

Mendacity!
The Export-Import Bank, also known as the Ex-Im Bank, announced today that it returned $675 million to the Treasury Department. Because it's a government agency, it's technically not a profit. 
If this were true bankers would do it.  It is not true.  If a bank offered the accounting that EXIM Bank uses to arrive at this number, people would go to jail.

ExIM Bank books losses as assets.  Try that in your business.

Feel free to forward this by email to three of your friends.


1 comments:

John Wiley Spiers said...

Yes, China wants to get rich the way USA did, which is "get big or get out," pollution, funny money, etc... i wish they put more emphasis on "with a Chinese character" in their policies, since they have tremendous cultural resource with which to craft unique responses to modern life. I never like it when China copies USA, or worse yet, when they adopt good things USA has abandoned. Double whammy!