Quote:
Originally Posted by blackandproud
Don't you think you should research information especially OLD information before you post it so not to make yourself look foolish? 
Bogus Brazilian Oil Claims | FactCheck.org
This claim stems from a "preliminary committment" made back on April 14 by the board of directors of the Export-Import Bank of the United States. The bank intends to loan up to $2 billion to finance exports to the Brazilian oil company Petróleo Brasileiro S.A., known as Petrobras, over the next several years.
The e-mail is false on two counts. - The message falsely says the decision was due to an "executive order" by the president. No presidential order was required. Furthermore, none of President Obama’s appointees had joined the Ex-Im board at the time of the vote, which was unanimous, and bipartisan. The Ex-Im Bank states: "In fact, at the time the Bank’s Board consisted of three Republicans and two Democrats, all of whom were appointed by George W. Bush."
- The message falsely claims that "we have absolutely no gain" from the loan. In fact, the loan is being made specifically to finance purchase by Petrobras of U.S.-made oilfield equipment and services. The mission of the Ex-Im Bank is to encourage exports by making such loans.
The bank’s chairman and president, Fred P. Hochberg, underscored the purpose of the loan during a trip to Brazil at the end of July:
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Didn't see where the OP cited this E-Mail as their source.
Relevance?
Here's the link again...
President Obama Finances Offshore Drilling in Brazil - WSJ.com
Every time I read the reasoning behind what "Factcheck" calls a "fact" I have to reread it because it seems I missed the part where they established the fact.
If something is actually a fact, shouldn't it be easy to show why it is a fact without all the Clintonesque half-answers, hair-splitting, misdirection and indirect reasoning?
"The message falsely says the decision was due to an "executive order" by the president."
Total red herring since the bank is part of the executive branch of the federal government. Whether he signs off on the package or not, the money emanates from a bank that belongs to the executive. That means BO is providing it.
"none of President Obama’s appointees had joined the Ex-Im board"
This absolves him of responsibility for the things done by the board?
Isn't he responsible for the actions of the entire executive branch from day one regardless of whose appointees are acting?
"The message falsely claims that "we have absolutely no gain" from the loan. In fact, the loan is being made specifically to finance purchase by Petrobras of U.S.-made oilfield equipment and services."
Do we get to keep the equipment after they buy it?
How is a sale of equipment we could use to drill for our own oil here being sold to a foreign entity beneficial?
To me it sounds like we are out the equipment and services we could be using for our own benefit. Is that not true?
P.S. loaning money to someone so they can buy your stuff is generally a stupid thing to do.
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