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Mon Mar 7, 2016, 09:42 AM

About that Export-Import Bank...

Across the Rayburn Building on the second floor, a two-page memo rolls over the fax machine in Sanders' office. Warren Gunnels, the congressman's legislative director, has been working the phones all day long, monitoring the Capitol Hill gossip around a vote that is to take place in the Senate later that afternoon. Now a contact of his has sent him a fax copy of an item making its way around the senatorial offices that day. Gunnels looks at the paper and laughs.

The memo appears to be printed on the official stationery of the Export-Import Bank, a federally subsidized institution whose official purpose is to lend money to overseas business ventures as a means of creating a market for U.S. exports. That's the official mission. A less full-of-shit description of Ex-Im might describe it as a federal slush fund that gives away massive low-interst loans to companies that a) don't need the money and b) have recently made gigantic contributions to the right people.

The afternoon Senate vote is the next act in a genuinely thrilling drama that Sanders himself started in the House a few weeks before. On June 28th, Sanders scored a stunning victory when the House voted 313--114 to approve his amendment to block a $5 billion loan by the Ex-Im Bank to Westinghouse to build four nuclear power plants in China.

The Ex-Im loan was a policy so dumb and violently opposed to American interests that lawmakers who voted for it had serious trouble coming up with a plausible excuse for approving it. In essence, the U.S. was giving $5 billion to a state-subsidized British utility (West-inghouse is a subsidiary of British Nuclear Fuels) to build up the infrastructure of our biggest trade competitor, along the way sharing advanced nuclear technology with Chinese conglomerate that had, in the past, shared nuclear know-how with Iran and Pakistan.


Read more: http://www.rollingstone.com/politics/news/inside-the-horror-show-that-is-congress-20050825#ixzz42Dxf7uLS

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Reply About that Export-Import Bank... (Original post)
jpgray Mar 2016 OP
Agony Mar 2016 #1
disillusioned73 Mar 2016 #2
jpgray Mar 2016 #3

Response to jpgray (Original post)

Mon Mar 7, 2016, 09:45 AM

1. KICK the plutocrats out of town.

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Response to jpgray (Original post)

Mon Mar 7, 2016, 10:03 AM

2. What I didn't get..

 

when this was brought up in the debate last night.. was when Clinton touted her involvement as SOS in helping to foster sales for American companies across the glode with this Ex-Im Bank.. Am I confused - is this what our SOS should be doing?? I immediately said.. why didn't Bernie just slam her for that.. So I honestly ask this question - is this part of the SOS gig?? If so, I am shocked, shocked I tell ya..

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Response to disillusioned73 (Reply #2)

Mon Mar 7, 2016, 09:15 PM

3. To be fair to HRC

I'm fairly certain she's not the only SOS to do that.

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