“The Export-Import Bank (Ex-Im)’s primary way of subsidizing exports is through loan guarantees: a private bank lends money to a foreign buyer (such as a foreign company or government) who is buying an American good. Ex-Im guarantees the loan, meaning that if the foreign buyer defaults, U.S. taxpayers foot the bill.  In fiscal year 2012, Ex-Im issued $14.7 billion in loan guarantees. $12.2 billion of that money subsidized Boeing sales.  That’s right: 82.7% of all of Ex-Im’s taxpayer-backed loan guarantees benefitted one corporation.”

http://washingtonexaminer.com/obama-gives-83-of-export-loan-guarantees-to-boeing/article/2514674

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy