Corporate Welfare on the backs of Taxpayers -- Export-Import Bank

Feb 2011
17,042
6,084
Boise, ID
Heritage

Congress will soon debate the fate of the U.S. Export–Import Bank (Ex–Im), which doles out financing to favored corporations and credit to foreign governments. Proponents claim that such taxpayer bankrolling creates jobs and fills “gaps” in private financing.[1] In fact, the bank is a conduit for corporate welfare beset by unreliable risk management, inefficiency, and cronyism.

Terminating the bank’s charter should be an easy call for lawmakers. Even Barack Obama, as a presidential candidate, endorsed its end.[2] With strong growth in privately financed exports, there is no justification for maintaining this Depression-era relic.
 
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Feb 2011
17,042
6,084
Boise, ID
What, is this beyond comprehension because your lords on MSNBC and FOX News aren't telling you what to think and say about it? Wake up people.
 
Nov 2011
7,164
2,377
I'd need more details before I could work up a good dose of outrage over this. My gut tells me that we don't really need a government sponsored bank to make business loans, but my gut also tells me that the explanation for this is oversimplified.