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Well it is right there in black and white in the Wall Street Journal link.
How do you know which MSM outlet is publishing mis-information anymore ?
You did notice that that WSJ article linked by the OP is an opinion piece?
All the MSM outlets mention Ex-Im Bank. How many of the folks who are screaming 'foul' bothered to check who or what the Ex-Im Bank is and what it does?
You did notice that that WSJ article linked by the OP is an opinion piece?
All the MSM outlets mention Ex-Im Bank. How many of the folks who are screaming 'foul' bothered to check who or what the Ex-Im Bank is and what it does?
I did click on the subsequent links provided by another poster.
I did not see that the original link the OP posted was an editorial though..I saw WSJ (Wall Street Journal).
Now that you know what the Ex-Im Bank's 'purpose of being' is, has your opinion regarding the issue changed?
No, I think we need the money here in the US more then to loan it to Brazil.
Any jobs created there would be better created here on the possibility that those jobs drive the need for other secondary jobs.
It is not really an opinion on Obama but an opinion on where to best spend that money. We have a position in Iraq so we have access to oil.
No, I think we need the money here in the US more then to loan it to Brazil.
Any jobs created there would be better created here on the possibility that those jobs drive the need for other secondary jobs.
It is not really an opinion on Obama but an opinion on where to best spend that money. We have a position in Iraq so we have access to oil.
Given the thousands year history of the Middle East, I have zeo confidence in continued access to oil in Iraq. I also believe in job creation and so does the Ex-Im Bank. I reiterate,
Quote:
Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency, now in its 75th year, helps to create and maintain U.S. jobs by financing the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insuranceand direct loans.
I don't know that Ex-Im Bank can do anything else with the money allocated to it as the official export-credit agency of the United States. That would be like asking the Defense Department to fund health care for all American citizens. We can say and demand it all we want but we know that's not going to happen. That's not their purpose for being.
Given the thousands year history of the Middle East, I have zeo confidence in continued access to oil in Iraq. I also believe in job creation and so does the Ex-Im Bank. I reiterate,
I don't know that Ex-Im Bank can do anything else with the money allocated to it as the official export-credit agency of the United States. That would be like asking the Defense Department to fund health care for all American citizens. We can say and demand it all we want but we know that's not going to happen. That's not their purpose for being.
You're right..I also remember reading that what they loan is dedicated monies. So I guess there's really no choice here.
What is the purpose of the U.S. Export-Import Bank?
It is to facilitate purchases from US companies by providing financing to US or foreign companies to close deals for US produced goods and services. In the case of Petrobras it means over 5 billion dollars in to purchase US oil prospecting services and later equipment to drill the off shore wells (i.e one of those big deep sea rigs built in the USA). It might also include oil handling facilities on shore. Now we could refuse to finance this and companies like Slumberger (France), Rosneft (Russia) or Sinopec (China) could get the work instead.
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