Boeing goes all biblical when discussing ExIM Bank...
“How would you plan for an Armageddon?” Kostya Zolotusky, managing director for capital markets and leasing at Boeing, told Bloomberg. “We’re not planning for an Armageddon. You can’t plan for an Armageddon.”...
Jeb Hensarling, who oversees the Export-Import Bank as Republican Chairman of the House Financial Services Committee, said in June, "We cannot reauthorize the status quo,” and the bank may be “guilty of corruption,” cronyism, and sending taxpayer money to foreign interests, according to Bloomberg.
And in an exercise of State's Rights, Gov Cuomo wants a grand tour paid for taxpayers with his own ExIm Bank to spread favors and disadvantage enemies.
The state will initially invest $35 million in the effort. The money would be loaned to companies looking to expand their overseas exports.
Cuomo says it is part of a larger push to help companies take advantage of growing international markets.
He says that as part of the initiative he'll go on trade missions to five nations: Canada, Mexico, Israel, China and Italy. Dates for the visits haven't been announced.
Daily Caller has an article on how women and minorities get little in ExIm Bank funding (well, duh!) but it is one of those sights that loads so much advertising that it crashes...
And here is your taxpayer going to keep bad business overseas propped up, and their politicians as well.
Export -Import Bank is back up to its old tricks – awarding taxpayer backed goodies to some questionable foreign recipients. This time those goodies came in the form of recently announced handouts to Pemex, the infamous Mexican State owned Oil Company, that cashed in this month on over $1 billion dollars in long term loan guarantees from the Export-Import Bank. This is nothing new as Pemex is Export-Import Bank’s largest debtor – leaving American taxpayers on the hook for over $6 billion of the $12 billion that has been loaned out to the oil behemoth.
Can't we get rid of just one teentsy weentsy bad idea?
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