Daily Adams

Ex-Im Bank Favors Big & Foreign Over Entrepreneurial and American

“In fact, little of Ex-Im’s money goes to small businesses. In 2013, 93 percent of the loan guarantees benefited five companies. Boeing was the beneficiary of about 20 percent of all commitments.

Ex-Im has given hundreds of millions of dollars in loan guarantees to state-owned Russian bank Vnesheconombank (VEB). VEB finances Russian arms exporter Rosoboronexport which is the principal weapons supplier to Bashar al Assad in Syria as well as supplying advanced missile systems to Iran.

Between 1997 and 2014, companies in China, Venezuela and Pakistan received billions of dollars in Ex-Im’s taxpayer-backed assistance.

Foreign companies routinely step up to the window at Ex-Im and are routinely rewarded, often at the expense of American companies.”

Via The Ex-Im Bank Fosters Both Crony Capitalism and Corruption. It’s Time For it to Go Away! @ TheBlaze.com

Comments are closed.