Trump to revive Import-Export Bank

[Matt Collins]

http://mobile.reuters.com/article/amp/idUSKBN17F03C

[Anti Federalist]

Again, I'll make up for Collins' fail and carry his ass...only because this is an important story.

In win for Boeing and GE, Trump says he wants to revive export bank

http://mobile.reuters.com/article/amp/idUSKBN17F03C

By Ginger Gibson | WASHINGTON

(Reuters) - President Donald Trump plans to revive the hobbled Export-Import Bank of the United States, his office said, a victory for American manufacturers like Boeing Co (BA.N) and General Electric Co (GE.N) which have overseas customers that use the agency's government-backed loans to purchase their products.

Trump first told the Wall Street Journal on Wednesday he would fill two vacancies on the agency's five-member board that have prevented the bank from having a quorum and being able to act on loans over $10 million. Trump's picks must gain approval from the Senate, which blocked nominees by former President Barack Obama.

Trump told the Journal that the bank benefits small businesses and creates jobs, a reversal of his earlier criticism of the bank being "featherbedding" for wealthy corporations.

The Export-Import Bank, an independent government agency, provides loans to foreign entities that enables them to purchase American-made goods. For example, it has been used by foreign airlines to purchase planes from Boeing and farmers in developing nations to acquire equipment.

The bank’s acting chairman, Charles “CJ” Hall, was not immediately available for comment.

The bank has become a popular target for conservatives, who have worked in Congress to kill the bank, arguing that it perpetuates cronyism and does little to create American jobs.

Trump's about-face on the export bank comes after meeting on Tuesday with former Boeing Chief Executive Officer Jim McNerney, who left the company last year but oversaw the corporation's aggressive lobbying effort in support of the bank in 2015.

Trump also met at the White House on Feb. 23 with GE CEO Jeff Immelt and Caterpillar Inc (CAT.N) CEO Mark Sutton, both vocal supporters of the bank.

It is not known if they discussed the bank at those meetings.

Large American corporations that do significant amounts of exports say other countries have similar agencies and the export bank levels the playing field.

"This is an encouraging development on a key competitive issue for U.S manufacturers and their extensive supply chains," Boeing spokeswoman Kate Bernard said in statement to Reuters.

The U.S. Chamber of Commerce and the National Association of Manufacturers, which includes companies like Ingersoll-Rand Plc (IR.N), United States Steel Corp (X.N) and Pfizer Inc (PFE.N), cheered the move.

[TheCount]

http://pleated-jeans.com/wp-content/uploads/2013/07/That-I-Told-You-So-moment.gif

[jmdrake]

MAGA! MAGA! MAGA MAGA MAGA! Imports and exports are good so MAGA!

[dannno]

Art Vandelay is going to get a raise.


https://www.youtube.com/watch?v=67L0pbneT2w

[Origanalist]

Art Vandelay is going to get a raise.


https://www.youtube.com/watch?v=67L0pbneT2w

What, you're not hopeful that this is just one of Trumps famous MAGA chess moves?

[dannno]

What, you're not hopeful that this is just one of Trumps famous MAGA chess moves?

This is not an issue I'm overly concerned about right now like I am with foreign policy, spending, taxes and healthcare reform. Obviously in a free market these banks wouldn't exist in this form, but we have nothing close to a free market.. everything is managed. Right now other countries have the same thing, we don't. It creates an imbalance on trade, but on the other hand it is easier for other types of loans to go through. In a free market, who knows what the outcome would be? More loans for importing/exporting or more loans for other things? What about the propping up of the US housing market, isn't that taking away from the loans in the free market that could be used for exporting? Who knows what the market would choose if it were free..

So it will be good for exports, but there will be a cost to getting loans for other things like housing.. But housing is propped up, so maybe this will lead to a more equitable outcome.. I don't know, I don't claim that it is even knowable, it is one of those things the market should work out using the invisible hand.

Ya, it would be nice to start moving toward a free market in all directions, but Donald Trump isn't exactly a free market guy. He is a lot better than the alternative, though.

[Origanalist]

Donald Trump isn't exactly a free market guy. He is a lot better than the alternative, though.

HAHAHAHAHA, you are now officially in Texans territory.

[TheCount]

HAHAHAHAHA, you are now officially in Texans territory.Lately, I've been having the thought that dannno is just going to escalate his support to a truly ridiculous level and then claim it as some kind of elaborate performance art all along.

[undergroundrr]

This should have been foreseen when trump was making key appointments. Pence and Sessions were both ardent supporters of the Export-Import Bank in congress.

https://votesmart.org/bill/15159/39849/34024/mike-pence-voted-yea-passage-hr-2072-export-import-bank-reauthorization-act-of-2012#39849
http://heritageaction.com/2012/05/export-import-bank-reauthorization-vote-recap/

[NorthCarolinaLiberty]

Lately, I've been having the thought that dannno is just going to escalate his support to a truly ridiculous level and then claim it as some kind of elaborate performance art all along.


Well, that's funny. I thought the same thing about you.

[NorthCarolinaLiberty]

Art Vandelay is going to get a raise.


https://www.youtube.com/watch?v=67L0pbneT2w



Art Vandelay composite. He's an importer AND exporter!



https://www.youtube.com/watch?v=UV0B7cedjqc

[TheTexan]

Again, I'll make up for Collins' fail and carry his ass...only because this is an important story.

Never heard of this "Import Export Bank" until now. It can't be that important of a story.

[TheTexan]

Hopefully this should create a lot of jobs in #America #MAGA

[TheTexan]

This is not an issue I'm overly concerned about right now like I am with foreign policy, spending, taxes and healthcare reform.

Exactly, noone even cares about this.

At the end of the day Trump's great positions on foreign policy, spending, taxes, and healthcare reform are what really matter.

[Matt Collins]

Exactly, noone even cares about this.

At the end of the day Trump's great positions on foreign policy, spending, taxes, and healthcare reform are what really matter.

Never heard of this "Import Export Bank" until now. It can't be that important of a story.
This has got to be trolling LOL

[NorthCarolinaLiberty]

This has got to be trolling LOL

No, The Texan is a great American who takes America seriously. And Texas.