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Crony Capitalism Alert: Ex-Im Bank Props Up Failing Solar Company with Big Loans

luckystranger Wrote: Jul 24, 2012 1:02 AM
First solar is owned by walmart and therefore dose not need to use our tax dollars to be propped up and besides the chinese now own one fourth of the stock in it.
First Solar is the recent beneficiary of guaranteed loans from the Export-Import Bank. The Export-Import Bank is a government corporation that operates within the Executive Branch, with the mission of financing the foreign purchase of domestic goods. The unaccountable bank has rightly been labeled as corporate welfare by House conservatives, but was reauthorized by the Republican majority a few months back. The bank’s recent loan guarantee to support First Solar calls into question the wisdom of that reauthorization. First Solar, as pointed out by Ashe Schow at Heritage Action , is the last company a government...