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An Offense Against Free Market Capitalism: The Export-Import Bank

william2647 Wrote: Apr 30, 2012 9:17 AM
Mr. arling your article reaffirms my opinion that journalism as a profession should be rated slightly above child molesters, but certainly below bank robbers. The ignorance of the subject matter in dealing with foreign business is truly appalling. Your attitude as well as the banks that did actually take bailout money is the reason that we continue to lose manufacturing jobs in the USA. All of the competition in foreign markets is from companies that if not totally owned by their governments are at least partly owned. In order to compete in this market,it doesn't matter whether an American company can deliver a better product, but who is controlling the financing. The Ex-Im bank may the the only US government entity that helps.
Brian 2798 Wrote: Apr 30, 2012 5:45 PM
Foreign government owned companies are not a good business model. These governments end up subsidizing lower priced products that help consumers, but artificially lower the price hurting the company at the expense of European taxpayers. Ex-Im is a socialist idea and your post reaffirms my belief that it is bad policy. What is so wrong with a truly free market and why should the US be copying the low growth policies of our European friends?

A 1934 creation of President Franklin D. Roosevelt, the Export-Import Bank was meant to facilitate trade between the United States and other nations.

Its initial focus was lending to the old Soviet Union. But over the years, the Ex-Im Bank portfolio has greatly diversified.

Eighty years on, it has loaned billions to numerous foreign nations and companies. The idea, as always, is to encourage those foreign entities to purchase U.S. goods. In reality, however, the so-called bank has outlived its usefulness.

Today, the Ex-Im Bank is fast approaching its statutory cap of $100 billion in loans, and...