Ex-Im bank: Crony capitalism at its absolute worst
Republican pigs: Not only is this Republican Congress pushing to reinstate the Export-Import Bank so that the federal government can provide cheap loans to their corporate buddies, several senators are pushing to require that there be political litmas tests before those loans are granted.
[S]enators from both parties are pitching a condition: that applicants for loans essentially vouch support for the Israeli economy in order to be approved. The move, described by multiple sources, is meant to counter a pro-Palestinian campaign to undermine Israeli exports because of its occupation of the West Bank and blockade of the Gaza Strip.
Specifically, the Ex-Im Bank would have to consider whether applicants for loans oppose “policies and actions that are politically motivated” and meant to inhibit “commercial relations specifically with citizens or residents of Israel.” In the past, Ex-Im has taken into account applicants’ stance on human rights and terrorism, prompting advocates of the new language to propose the new qualification.
It is obscene for the federal government to be in the loan business, picking favorites among private companies. It is even more obscene for these elected officials to demand that those favorites adhere to their political whims (no matter that I might agree with those particular whims). The Ex-Im bank should go away, along with the senators who are now pushing for it.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
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4. Donate by check, payable to Robert Zimmerman and mailed to
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Republican pigs: Not only is this Republican Congress pushing to reinstate the Export-Import Bank so that the federal government can provide cheap loans to their corporate buddies, several senators are pushing to require that there be political litmas tests before those loans are granted.
[S]enators from both parties are pitching a condition: that applicants for loans essentially vouch support for the Israeli economy in order to be approved. The move, described by multiple sources, is meant to counter a pro-Palestinian campaign to undermine Israeli exports because of its occupation of the West Bank and blockade of the Gaza Strip.
Specifically, the Ex-Im Bank would have to consider whether applicants for loans oppose “policies and actions that are politically motivated” and meant to inhibit “commercial relations specifically with citizens or residents of Israel.” In the past, Ex-Im has taken into account applicants’ stance on human rights and terrorism, prompting advocates of the new language to propose the new qualification.
It is obscene for the federal government to be in the loan business, picking favorites among private companies. It is even more obscene for these elected officials to demand that those favorites adhere to their political whims (no matter that I might agree with those particular whims). The Ex-Im bank should go away, along with the senators who are now pushing for it.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
It is nice to see that people still have principles.
Q: Can the Ex-Im bank be seen as a counter balance to other country’s subsidizing there own company’s thus giving them an “unfair” advantages in the global markets?
“Principles”, that’s a good one Wodun, this game is not based on principles its based getting business done and making a profit if you can. Here is a book I suggest you read:
http://www.amazon.com/Confessions-Economic-Hit-John-Perkins/dp/0452287081
This is how the game is played at the highest levels.
Which road is it that is paved with good intentions? It looks like the legislators are trying to correct a wrong by making yet another wrong. This is a process that could go on for years or decades.
Oh, wait! That is exactly how we end up with a huge, tyrannical government. Rather than sticking with the basics of protecting the citizens, peaceably resolving disputes, and getting the hell out of everyone’s way, government get all high and mighty by seeing themselves as problem solvers. However, instead of solving the problem, they merely create new problems, which they then think must be solved by them.
This is how we ended up with a useless, tyrannical Obamacare, which has not solved a single problem and has created a large number of other problems.
And now the Ex-Im bank is getting further involved in political solutions (read: “problem generation”) to political problems (read: “previous attempts at problem solving”). Government isn’t the solution, it is the problem.
What a crock!
I assume (I really know nothing about the bank and its operation) that the Ex-Im bank is the result of big business players and their lobbyists crafting the laws of the country in order to give them the leverage that they believe they need to realistically compete in the international arena.
Laws and protectionism are the things that must be sometimes overcome and there is only one way to affect those laws and that protectionism and that is through legally “cheating”. I will assume that the rule in international business is that there are no rules and if you have the opportunity to gain an advantage, even if you custom manufacture it you take it.
Corrupt and perverted? Oh, bet on it.