In response to:

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

Michael1364 Wrote: Jul 24, 2012 11:10 AM
Sure... Just like Solyndra didn't lose any tax money either. If the company goes bankrupt, which it must as it is failing without govt money, then all loans made will be paid with tax money. This is crony capitalism at its worse. It amazes me how much bs some people post.
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...