The Ex-Im bank is a subsidy-laundering operation. Even at its most transparent, it’s a way of passing money which originated with the taxpayer to Fortune 500 companies who support the President’s agenda. Its existence poses a colossal moral hazard to say the least.
Under Obama it’s a parasitic organization that does nothing but lend foreigners money to buy selected unionized goods and services from donor companies. The fact that it doesn’t use direct tax money, but rather money borrowed at 0% (or even functionally negative) interest from the taxpayer is a distinction without a difference.
Where does its funding come from? Who picks up the bills if loans aren't repaid? Does anyone know for sure? It doesn't sound like there is a lot of transparency here.
It claims to only loan money to corporations who promise to utilize American goods and services. That could be a temporary boon to the economy. Do the benefits of this cover the cost of defaulted loans?
Do you have any attibution when you say the money is borrowed at 0%. It's not that I don't believe you...I just want to be armed with all of the facts when I bring up this issue in discussion.