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Thread: If Elizabeth Warren is So Anti-Wall Street, Why Does She Support the Ex-Im Bank?

  1. #1

    If Elizabeth Warren is So Anti-Wall Street, Why Does She Support the Ex-Im Bank?


    If Elizabeth Warren is So Anti-Wall Street, Why Does She Support the Ex-Im Bank?

    By Julie Borowski

    Senator Elizabeth Warren (D-Mass.) has a populist reputation of being anti-Wall Street. Last week, she nearly threatened to shut down the government because the Omnibus bill would repeal a section in the Dodd-Frank financial regulation bill that passed in 2010.

    She gave a passionate speech on the Senate floor calling for her colleagues to oppose the government spending bill unless the provision was removed.
    ...
    She’s right to say that opposing Wall Street bailout is a transpartisan issue.

    I’m no fan of Wall Street bailouts.
    ...
    One can say that the Tea Party movement gained momentum after the big Wall Street bailouts. Many people in the Occupy movement also took issue with the big bankers getting bailed out by Main Street. Elizabeth Warren has even taking credit for “creating much of the intellectual foundation for what they [occupiers] do.”

    However, the Tea Party and Occupy movements often disagreed with each other on the right tactics and solutions.

    As a libertarian, I’m more likely to agree with the Tea Partiers who believe that big government and big business go hand and hand. You want to reduce corporate welfare and handouts? Then, reduce the size and scope of government.

    I tend to disagree with Elizabeth Warren’s approach. It’s too big government for my tastes. If politicians are in bed with big corporations, I sense that giving government more power will only escalate the problem.

    However, I’m able to recognize we have the same end goal—no more taxpayer-funded bailouts—even though our proposed solutions are different.

    Though, I have to question: just how anti-Wall Street is Elizabeth Warren, actually?


    For someone who constantly rails against corporate handouts, it’s surprising to learn that she’s a supporter of the Ex-Im Bank.
    ...
    FreedomWorks opposes the Ex-Im Bank because it loans out taxpayer money to big politically-connected corporations and banks.

    It’s not just groups on the right who are opposed.

    Ralph Nader has said that the left and right must come together to end the Ex-Im Bank.

    Senator Bernie Sanders (I-VT) called it “corporate welfare at its worst” in 2002. Rep. Alan Grayson (D-Fla.) has said the same. Then-Senator Barack Obama said, “the Export-Import Bank that's become little more than a fund for corporate welfare” during the campaign trail.

    Yet, Elizabeth Warren backs the corporate welfare bank.
    ...
    Where is Elizabeth Warren standing up against corporate welfare when you need her?
    ...
    More: http://www.freedomworks.org/content/...ort-ex-im-bank
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.



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  3. #2
    FreedomWorks opposes the Ex-Im Bank because it loans out taxpayer money to big politically-connected corporations and banks.
    The Export-Import Bank is self funding. http://www.exim.gov/newsandevents/th...ex-im-bank.cfm It was started with taxpayer money but no longer uses any- instead relying on interest earned on their loans. True the Ex-Im bank does help corporations. It makes loans to other countries (not to corporations though the corporations benefit from the business the loans generate) which must use the money to buy US goods and services.
    Last edited by Zippyjuan; 12-17-2014 at 02:11 PM.

  4. #3
    People make a big issue out of nothing when it comes to this bank

  5. #4
    To understand just how politically shallow and dysfunctional Washington has become, consider the showdown over whether to abolish the Export-Import Bank, an obscure 80-year-old agency that provides loans and loan guarantees to American exporters and their customers.

    Normally, reauthorization of the bank is a routine, bipartisan affair. But this time a group of conservative and normally pro-business Republicans are determined to let the agency die when its current authorization runs out at the end of the month. They include the new House Majority Leader, Kevin McCarthy (Calif.), and the chairman of the House Financial Services Committee, Jeb Hensarling (Tex.), whose committee has jurisdiction over the agency. They see the bank as a symbol of the kind of “crony capitalism” that breeds corruption and undermines free-market principles by allowing government bureaucrats to pick economic winners and losers.

    Naturally, anything House Republicans are against these days, Democrats are for. So we have a Democratic Party — including such crusaders against corporate welfare as Sens. Sherrod Brown (Ohio) and Elizabeth Warren (Mass.) — coming together to defend a program that, by their reckoning, saves and protects American jobs.

    In truth, the Union will survive, and the economy will be largely unaffected, whether or not the Ex-Im Bank is reauthorized.

    There may have been a time when private markets were unable or unwilling to provide export financing, but I doubt that is still true. The reason private export finance and insurance are not available today is that government long ago stepped in to provide it more cheaply than the private sector ever could. So the only real justification for the program is simply that all the other countries are doing it, and if we were to stop unilaterally, it would put our exporters at a disadvantage. Surely, however, if we can negotiate an end to the arms race in nuclear warheads, we ought to be able to negotiate one for export financing as well.

    The reason we don’t try to is pretty obvious: As the chief executive of Delta Air Lines recently testified, having government-insured financing shaves $20 million — or about 10 percent — off the total cost of a wide-body Boeing jet bought by a foreign airline with borrowed money. And you can figure there’s a similarly proportionate effect on the cost of a giant earthmover that Caterpillar sells to a customer in Australia or a gas turbine that General Electric sells in India. Indeed, it is this handful of exporters of big, expensive machinery that account for the lion’s share of the Ex-Im financing. With their unions, they also account for the lion’s share of the bank’s political support.

    It’s disappointing that both parties are content to have this debate by focusing on a small agency that actually makes a small profit for the Treasury, when dozens of other programs are much more economically distortive, politically corrupting and costly to taxpayers.

    We could start by asking how its critic would distinguish the loans and loan guarantees that Ex-Im provides with the loans and loan guarantees from the Small Business Administration. In truth, there is little difference, except that with small-business loans much of the subsidy is captured by banks, which have learned that they can earn a handsome, risk-free spread by declaring that they would not make such loans without a government guarantee.

    If the government has no place insuring export loans, then surely it also has no place providing subsidized crop insurance to farmers — to say nothing of the drought relief, crop subsidies and income guarantees that constitute a $10 billion to $20 billion a year welfare program for the agricultural sector. Add to that the ethanol requirement for gasoline and the import quotas for sugar, and there’s an additional $3 billion a year that American consumers are forced to eat in higher corn and sugar prices.

    And let’s not forget the federal flood insurance program, which props up real estate values and tourist industries in coastal towns that refuse to accept the judgment of Mother Nature. Called a “fiscal time bomb” by the Heritage Foundation, it is more than $24 billion in debt.

    One favorite bit of corporate welfare is the $800 million spent each year to keep cargo moving along the Mississippi River, giving a huge boost to barge operators as they compete with rail and trucking firms that pay for their own infrastructure.

    And then there are those proudly self-reliant, anti-government ranchers and miners out West who are allowed to pay below-market rates to graze their cattle or extract minerals from federal lands. The fees are so low that they don’t even cover the government’s expenses for managing the programs.
    The mother lode of crony capitalism, of course, is to be found in the corporate tax code, which is stuffed to the gills with special-interest provisions that have been bought and paid for with political contributions to members of the tax-writing committees. Surely no industry has worked the code more successfully than the energy trade — oil, gas, coal, but also alternative energy such as solar, wind and biomass. The American Action Forum, a think tank, estimates that energy industries benefit to the tune of $9.5 billion each year in tax expenditures. Unlike the Ex-Im Bank, tax breaks don’t have to be reauthorized, so they live on forever.

    There are Republicans who are serious about rooting out corporate welfare. Hensarling led an unsuccessful fight to phase out the flood insurance program. Rep. Paul Ryan (R-Wis.) has used his perch as House Budget Committee chairman to try to trim farm subsidies. Rep. Thomas Massie (R-Ky.) mounted a rear-guard action on the House floor to close down a slush fund used to promote U.S. tourism for the benefit of hotels and resorts. I’m sure there are others.
    But for many of the Republican critics,

    the campaign against the Ex-Im Bank is meant to give

    the appearance


    of opposing corporate welfare and crony capitalism
    without offending the crony capitalists and corporate welfare queens who keep them in office.


    That’s why they have voted overwhelming to reauthorize farm subsidies and flood insurance, why they slavishly support small-business loans and contract set-asides and why they refuse even to acknowledge the sensible tax reform proposal put on the table by the Republican chairman of the House Ways and Means Committee.

    What’s really surprising, however, is that Democrats did not take this opportunity to up the ante on the Republicans by proposing to phase out corporate welfare in all of its forms, including Ex-Im. In the unlikely event that Republicans had accepted the challenge, it could have freed up tens of billions of dollars every year that could be used to reduce the deficit, cut taxes, invest in infrastructure or restore cuts to vital domestic programs. And if Republicans had declined the offer, that would have exposed their effort to kill the bank as the cynical and hypocritical ploy it appears to be.
    http://www.washingtonpost.com/busine...bea_story.html


    Killing the Ex-Im, although perhaps symbollic, would have a largely unsubstantial effect of any sorts on the macro economy or micro economic favouritism.
    Last edited by presence; 12-17-2014 at 02:43 PM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  6. #5

    Koch-funded, libertarian campaign to kill the Export-Import Bank could finally end it

    But people aren’t ignoring Ex-Im (as it’s universally abbreviated) anymore. A government agency that was too dull to write about is suddenly the perfect libertarian target. It took years of messaging, much of it by groups funded by the omnipresent Koch network, but Ex-Im has emerged as a test for whether “libertarian populism” can win a vote in Congress.

    Obama’s own Ex-Im quote stayed rather obscure until March 2012. That was when the Club for Growth, which predates the growth of the Koch network but has benefited from it, began attacking the bank’s May 2012 reauthorization vote. The bank periodically needs to be reauthorized by Congress, a process that has happened more or less routinely every few years since the 1940s. It needs to be reauthorized by Sept. 30, 2014, or it will shut down.


    http://www.slate.com/articles/news_a...he_export.html

  7. #6
    http://www.washingtonpost.com/news/s...-bank-edition/

    Do I need to care?

    The Ex-Im bank, at the very least, likely doesn’t do Americans any harm. It’s self-funded, returning about $1 billion last year to the Treasury in proceeds from interest rates. While some companies – such as Delta Airlines – claim Ex-Im financing helps their foreign rivals purchase supplies at lower cost, the effect is probably outweighed by the U.S. government using its prodigious lending capacity on the behalf of U.S. producers. The bank calculates that its 2013 portfolio currently “supports” 205,000 jobs, which is a not insignificant number of jobs.

    But would you notice if the bank disappears at the end of September? If you’re one of the 7,000 businesses the bank says it helped between 2007 and 2014, it could make the difference between getting a big contract or not. If you’re a shareholder of Caterpillar, General Electric or Boeing — three of the biggest recipients of Ex-Im financing — you might notice slightly lower returns.

    But overall, it only touches two percent of U.S. exports. And often, Ex-Im financing is something that’s just nice to have, not essential. As the chief financial officer of New Jersey-based Rastelli Foods, a big Ex-Im client, put it: “If their charter is not renewed, we will be scrambling to find trade insurance that is as flexible and easy to manage as that provided by Exim Bank.”

    Ultimately, as the Wall Street Journal explained, the fight over the Ex-Im Bank reauthorization is more important for what it says about the shifting nature of American politics than it is to the overall economy. The right wing of the Republican party is flouting the desires of big business, while moderates get behind a mild form of protectionism. Meanwhile, liberals have largely abandoned their previous opposition, which arose in response to environmental and human rights issues with the projects that Ex-Im used to support. Whether it survives is an indicator of who’s on top in Washington — with some real consequences, but not far-reaching effects.

    Care-o-Meter, scale of 1 to 10: 3
    Last edited by Zippyjuan; 12-17-2014 at 02:21 PM.

  8. #7

  9. #8



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  11. #9
    Who thinks she has a clue what ex-im bank means?

  12. #10
    Quote Originally Posted by Zippyjuan View Post
    The Export-Import Bank is self funding. http://www.exim.gov/newsandevents/th...ex-im-bank.cfm It was started with taxpayer money but no longer uses any- instead relying on interest earned on their loans. True the Ex-Im bank does help corporations. It makes loans to other countries (not to corporations though the corporations benefit from the business the loans generate) which must use the money to buy US goods and services.
    Such a quick defense of the Ex-Im Bank. Does your system immediately alert you to topics that need pro-government spin?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  13. #11
    Quote Originally Posted by Brian4Liberty View Post
    Such a quick defense of the Ex-Im Bank. Does your system immediately alert you to topics that need pro-government spin?


    Ex-Im is US Gov't loaning Boeing, Betchtel, GE, Catepillar, at-profit, when they transport industrial goods on cargo ships overseas.

    Ex-Im takes in a billion or two a year of profit. We have corporate welfare programs that piss out half a trillion a year in losses.

    This issue... unless you can substantiate otherwise, is, in my estimation, a large waste of political capital and nothing more than a diversion away from greater issues at hand.
    Last edited by presence; 12-17-2014 at 02:52 PM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  14. #12
    Quote Originally Posted by Zippyjuan View Post
    The Ex-Im bank, at the very least, likely doesn’t do Americans any harm. It’s self-funded, returning about $1 billion last year to the Treasury in proceeds from interest rates.
    Imagine somebody saying that something likely did Americans no harm on the grounds that it padded the treasuries of the Bloods and Crips.

  15. #13
    Quote Originally Posted by erowe1 View Post
    Imagine somebody saying that something likely did Americans no harm on the grounds that it padded the treasuries of the Bloods and Crips.
    I'd certainly rather treasuries be padded on profits made on Ex-Im loans with willing parties, then on personal income tax.
    Last edited by presence; 12-17-2014 at 02:44 PM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  16. #14
    Quote Originally Posted by NACBA View Post
    People make a big issue out of nothing when it comes to this bank
    It's increasingly clear that Warren is your gal, but it's not nothing.

    Elizabeth Warren Sells Out to Her Corporate Masters
    She is supporting the Ex-Im Bank for the worst reason possible.
    http://reason.com/archives/2014/10/0...-to-her-corpor

    Her office recently released a statement noting not that the bank is a hotbed of corruption (given that four of its employees were recently removed for allegedly accepting bribes and kickbacks), misgovernance (the bank has numerous times doled out financial assistance to companies filing fraudulent applications) and a taxpayer rip off whose time is up. Rather, it said that Warren "looks forward to reviewing the reauthorization" of the bank because it "helps create American jobs and spur economic growth."
    [...]
    Be that as it may, Warren must know that the bank does not live up to her rosy claims. In fact, it is the very essence of what she despises: crony capitalism or what she condemns as socialism "for rich people."
    [...]
    In principle, the bank is supposed to help all exporters—big and small—equally. In practice, over 75 percent of its activities have supported a handful of large corporations. In 2013, as in previous years, Boeing got 30 percent—or $8.3 billion—of its total financial assistance—earning the bank the nickname of "Boeing's Bank."
    [...]
    If the country must take on debt, wouldn't it behoove Warren, the self-proclaimed progressive champion of ordinary Americans to do so, say, to finance middle-class tax cuts rather than corporate boondoggles?

    Why is Warren so sweet on the bank? It's not like Massachusetts companies receive disproportionate export aid. It's because, as former Democratic Massachusetts Congressman Barney Frank told the Huffington Post, Democrats have made a tactical decision to close ranks and dump their previous opposition to Ex-Im because they want to wrest Corporate America—and presumably its campaign contributions—from the GOP.

    In other words, it appears the woman who went to Washington to vanquish the corporate powers-that-be has become a classic Washington insider serving those powers for their money. With a direct vote on the matter delayed until next year, she has time to reconsider, but don’t stand on one foot.
    Export-Import Bank: Too Dumb to Fail?
    Crony capitalism run amok.
    http://reason.com/archives/2014/08/1...o-dumb-to-fail

    Sorry, Zippy. Wrong again. It costs taxpayers plenty.

    Export-Import Bank costs taxpayers $2 billion a decade
    http://www.washingtonexaminer.com/ex...rticle/2548865

    When you use fair-value accounting, you see that Ex-Im costs taxpayers $200 million a year, the CBO found last week. That cost comes overwhelmingly from the agency’s long-term loan guarantees, which mostly go to subsidize Boeing jets.
    [...]
    It’s Robin Hood in reverse.

    There are plenty of other holes in Ex-Im's claims to profitability. Fannie Mae and Freddie Mac were profitable until they weren't -- then taxpayers bailed them out. If foreign airlines started running into trouble, Ex-Im would be exposed to a swath of failures.

    And if any Ex-Im activities that truly are profitable (the CBO estimates a small gain from Ex-Im’s direct loans), that’s an argument to leave those activities to the private sector.

    It's always hard to justify an agency that exists primarily to subsidize large corporations. When you use honest accounting, it's impossible.
    Based on the idea of natural rights, government secures those rights to the individual by strictly negative intervention, making justice costless and easy of access; and beyond that it does not go. The State, on the other hand, both in its genesis and by its primary intention, is purely anti-social. It is not based on the idea of natural rights, but on the idea that the individual has no rights except those that the State may provisionally grant him. It has always made justice costly and difficult of access, and has invariably held itself above justice and common morality whenever it could advantage itself by so doing.
    --Albert J. Nock

  17. #15
    Quote Originally Posted by Lucille View Post
    Sorry, Zippy. Wrong again. It costs taxpayers plenty.

    Export-Import Bank costs taxpayers $2 billion a decade
    http://www.washingtonexaminer.com/ex...rticle/2548865
    Of course. Zippy's gov.stats are frequently wrong, misleading or not applicable to the current topic.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  18. #16
    Quote Originally Posted by presence View Post
    This issue... unless you can substantiate otherwise, is, in my estimation, a large waste of political capital and nothing more than a diversion away from greater issues at hand.

    Ex-Im takes in a billion or two a year of profit. We have corporate welfare programs that piss out half a trillion a year in losses.
    It's a little fish, but one that should be easy to fry.

    Other stats say that it does cost taxpayers money. And even it was profitable, what other businesses would you like to see government go into? Instead of crony-capitalism, we should have government end the charade and run businesses themselves, with all of the power, advantages and privileges that would entail?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.



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  20. #17
    Quote Originally Posted by presence View Post
    This issue... unless you can substantiate otherwise, is, in my estimation, a large waste of political capital and nothing more than a diversion away from greater issues at hand.

    Ex-Im takes in a billion or two a year of profit. We have corporate welfare programs that piss out half a trillion a year in losses.
    For something that is not a big deal and something that makes 1-2 billion a year. For one I wonder why some of the banks are not going in on the action and if its no big deal, why is it that wall street bring out the big guns everything there is a movement to kill it. The supporters seems to be putting up a fight for something that's not worth the political capital.


    Last edited by juleswin; 12-17-2014 at 03:06 PM.

  21. #18
    Quote Originally Posted by Brian4Liberty View Post
    Such a quick defense of the Ex-Im Bank. Does your system immediately alert you to topics that need pro-government spin?
    Trolls should be banned....

  22. #19
    Quote Originally Posted by juleswin View Post
    Thanks juleswin.

    I concede.


    $#@! Ex-Im too.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  23. #20
    Quote Originally Posted by juleswin View Post
    For something that is not a big deal and something that makes 1-2 billion a year. For one I wonder why some of the banks are not going in on the action and if its no big deal, why is it that wall street bring out the big guns everything there is a movement to kill it. The supporters seems to be putting up a fight for something that's not worth the political capital.


    Good stuff.

    Crony corporatism + moral hazard + market distortion + malinvestment = something that only special interests and big government could love.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  24. #21
    Quote Originally Posted by Zippyjuan View Post
    The Export-Import Bank is self funding. http://www.exim.gov/newsandevents/th...ex-im-bank.cfm It was started with taxpayer money but no longer uses any- instead relying on interest earned on their loans. True the Ex-Im bank does help corporations. It makes loans to other countries (not to corporations though the corporations benefit from the business the loans generate) which must use the money to buy US goods and services.
    Quote Originally Posted by Zippyjuan View Post
    But would you notice if the bank disappears at the end of September? If you’re one of the 7,000 businesses the bank says it helped between 2007 and 2014, it could make the difference between getting a big contract or not. If you’re a shareholder of Caterpillar, General Electric or Boeing — three of the biggest recipients of Ex-Im financing — you might notice slightly lower returns.

    But overall, it only touches two percent of U.S. exports. And often, Ex-Im financing is something that’s just nice to have, not essential. As the chief financial officer of New Jersey-based Rastelli Foods, a big Ex-Im client, put it: “If their charter is not renewed, we will be scrambling to find trade insurance that is as flexible and easy to manage as that provided by Exim Bank.”
    Quote Originally Posted by Lucille View Post
    Sorry, Zippy. Wrong again. It costs taxpayers plenty.

    Export-Import Bank costs taxpayers $2 billion a decade
    http://www.washingtonexaminer.com/ex...rticle/2548865
    Quote Originally Posted by Brian4Liberty View Post
    Of course. Zippy's gov.stats are frequently wrong, misleading or not applicable to the current topic.
    Gee, Brian, what makes you say that? Was it past experience, was it Lucille's sound refutation of his rather silly-assed claim, or was it the fact that he made a statement in post 2 of this thread, then turned around and contradicted it his very own self in post 6?
    Quote Originally Posted by dannno View Post
    Lol, wow, Anthony Weiner, too?

  25. #22

  26. #23
    Warren's most likely controlled opposition. Working for the very people she's railing against.

  27. #24
    Quote Originally Posted by DFF View Post
    Warren's most likely controlled opposition. Working for the very people she's railing against.
    Huh--ya think?
    Quote Originally Posted by dannno View Post
    Lol, wow, Anthony Weiner, too?



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  29. #25
    Quote Originally Posted by DFF View Post
    Warren's most likely controlled opposition. Working for the very people she's railing against.
    You know, I once read a critique of Noam Chomskey that stated that if he was really so anti-establishment and represented a real threat to the status quo in the Universities he regularly criticized, he wouldn't have been receiving/winning all of those academic awards from higher institutions he was critical of. They would have treated him as the enemy. I don't doubt for one second that Warren is a patsy for the NWO.
    The wisdom of Swordy:

    On bringing the troops home
    Quote Originally Posted by Swordsmyth View Post
    They are coming home, all the naysayers said they would never leave Syria and then they said they were going to stay in Iraq forever..... just like Trump said.

    On fighting corruption:
    Quote Originally Posted by Swordsmyth View Post
    Trump had to donate the "right way" and hang out with the "right people" in order to do business in NYC and Hollyweird and in order to investigate and expose them.
    Fascism Defined

  30. #26
    The most hilarious conversation I've ever had with a fellow Paul supporter was with a dear friend who was email-interviewing Julie Borowski. She asked me to ghost-write the interview, and I was dictating slowly over the phone. I had some questions ready for Julie.

    Me: Julie, will...you...go out...with...my...friend...Kurt

    Activist: NOW NONE OF THAT NONSENSE. I ACTUALLY JUST WROTE THAT DOWN. JULIE IS MARRIED ANYWAY.

    Me: Would you...happen...to be free for...dinner...on...

    Activist (interrupts) STOP RIGHT THERE!! JULIE AND HER HUSBAND ARE VERY SPIRITUAL, DEVOUT CHRISTIANS! I WANT A REAL INTERVIEW.

    Me: Okay, okay here's a serious question.

    Activist: Okay, go ahead.

    Me: Ms. Borowski, have you or your...husband had the...chance to read Stranger In A Strange...Land...

    My ears still sear from the scolding I got at that point.

  31. #27
    Looks like Paulites are so scared of Warren that they're already launching preemptive attacks.

  32. #28
    Quote Originally Posted by 56ktarget View Post
    Looks like Paulites are so scared of Warren that they're already launching preemptive attacks.
    You're a (mod edit)...

    http://www.ronpaulforums.com/showthr...=1#post5545922
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



    Rock The World!
    USAF Veteran

  33. #29
    Quote Originally Posted by 56ktarget View Post
    Looks like Paulites are so scared of Warren that they're already launching preemptive attacks.
    Your commentary is always appreciated because it's always hilariously inaccurate.
    Quote Originally Posted by Sister Miriam Godwinson View Post
    We Must Dissent.

  34. #30
    Supporting the (Rothschild) Ex-Im Bank just makes her another one of the Rothschild's NWO girls. <YAWN>
    Last edited by Ronin Truth; 12-18-2014 at 06:26 AM.

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