Ex-Im Bank disputes Palin attack

Politico ^ | Aug. 19, 2009 | Ben Smith

[Al B.]

The government run U.S. Export Import Bank is disputing Sarah Palin's attack this morning on a proposed $2 billion loan to the Brazilian oil company Petrobras.

Palin complained that "the Obama White House is prepared to send more than two billion of your hard-earned tax dollars to Brazil so that the nation's state-owned oil company, Petrobras, can drill off shore and create jobs developing its own resources" and that Obama "chooses to use American dollars in Brazil that will help to pay the salaries and benefits for Brazilians to drill for resources when the need and desire is great in America."

A spokesman for the bank, Phil Cogan, noted to POLITICO that the bank does not rely on tax money and that Palin's statement ignores the bank's central function: To lend money to foreign companies for the purchase of American goods and services.

"It has to be produced by U.S. workers -- and I note that that's exactly what she's calling for," Cogan said. "She says 'create jobs and health benefits in the U.S.' -- that's exactly what a purchase financed by the U.S. government would do."

--snip--

"This is the government doing what it's supposed to do: Create jobs and make sure that Americans get a fair shot at selling goods and services -- not the British or the French or anyone else -- and to help American workers compete on a level playing field," Cogan said, noting that most developed countries have similar credit-export agencies.

--snip--

Another administration official expressed frustration with Palin's latest salvo.

"This is like her and her death panels," the official said. "This is one more example of, 'Let's take a situation with a kernel of truth and blow it up and not let the facts ruin a good story.'"

[eureka!]

Ben Smith appears to hate Palin. Why I don’t know. Insecurity, probably.

[BlueNgold]

They of course ignore her main point that we should be drilling HERE! And that a $2BB capitol investment in American Oil Reserves would create thousands of high paying commodity producing jobs right here at home.

[SolidWood]

No, because he’s a leftist tool.

[expatpat]

A spokesman for the bank, Phil Cogan, noted to POLITICO that the bank does not rely on tax money

Sure, that money came from the tooth fairy, not from taxes. Move along, folks.

[Sarah Barracuda]

The left are TERRIFIED of her. Every time she issues a statement, the left poop their pants just a little bit more

[what's up]

So why is O-Zero pushing for drilling down there and not here?

Enviro-issues don't count down in Brazil?

[FroggyTheGremlim]

“This is like her and her death panels,” the official said.

Yep, both statements are alike. Both true.

If I am correct, Sarah quoted a Wall Street Journal article for her piece.

[SolidWood]

"She says 'create jobs and health benefits in the U.S.' -- that's exactly what a purchase financed by the U.S. government would do."

Then develop domestic energy for goodness sake!

[La Lydia]

A very lame reply. And it begs the question of why off shore drilling is fine and dandy and “ecologically safe and sound” for the Brazilian state oil company, but forbidden to us.

[freekitty]

They sure are scared of that Alaskan woman.

[Extremely Extreme Extremist]

Why would Cogan contact Politico and not issue a statement directly to Palin? He could have easily issued an op-ed rebuttal in the NY Times or Washington Post tomorrow.

[TexasCajun]

What? Brazil will have to give back the 2 Billion when the bank finds out it is buying Chinese drilling rigs and Chinese infrastructure?

Yeah, I see that happening.

[WVKayaker]

... I'll speak for the talent I have personally witnessed on the oil fields in Alaska when I say no other country in the world has a stronger workforce than America, no other country in the world has better safety standards than America, and no other country in the world has stricter environmental standards than America. Come to Alaska to witness how oil and gas can be developed simultaneously with the preservation of our eco-system. America has the resources. We deserve the opportunity to develop our resources no less than the Brazilians. Millions of Americans know it is true: "Drill, baby, drill." Alaska is proof you can drill and develop, and preserve nature, with its magnificent caribou herds passing by the Trans Alaska Pipeline System (TAPS), completely unaffected. One has to wonder if Obama is playing politics and perhaps refusing a "win" for some states just to play to the left with our money. ... -Sarah Palin, 8/19/2009

[eureka!]

Re#4 Doh’p! True. ;^)

[Dahoser]

"This is the government doing what it's supposed to do: Create jobs and make sure that Americans get a fair shot at selling goods and services -- not the British or the French or anyone else -- and to help American workers compete on a level playing field," Cogan said, noting that most developed countries have similar credit-export agencies.

This clymer Cogan has no credibility if that's what he thinks the US government is supposed to do.

[rockinqsranch]

“So why is O-Zero pushing for drilling down there and not here?”

I really don’t know, but Perhaps payback for his job.

http://www.lonelyconservative.com/2009/08/18/obama-to-invest-in-offshore-oil-drilling-in-brazil-soros-stands-to-reap-dividends/

[Texas Fossil]

From their own website-

“United States (Ex-Im Bank), the U.S. government’s official export credit agency.”

—

“

Board of Directors

Fred P. Hochberg, Chairman and President

Fred P. Hochberg is the 23rd president of the Export-Import Bank of the United States (Ex-Im Bank), the U.S. government’s official export credit agency. In this capacity, Hochberg also serves as chairman of the board.

President Barack Obama nominated Hochberg to the position on April 20, 2009. The U.S. Senate confirmed his nomination by unanimous consent on May 14, 2009, for a term ending on January 20, 2013. He was sworn in as chairman and president on May 21, 2009.

Hochberg has more than 30 years of experience in business, government and philanthropy. From 2004 to 2008, he was dean of Milano The New School for Management and Urban Policy. From 1998 through 2001, he served as deputy, then acting administrator of the Small Business Administration (SBA), where he vastly improved customer service and substantially increased lending to minority and women small-business owners.

VACANT
First Vice President and Vice Chair “

(others listed)

see > http://www.exim.gov/about/leadership/board.cfm

—

I seriously doubt the claim that none of Taxpayers money is involved. This is “lawyer” “double speak”.

[throwback]

Palin drew her criticism from a Wall Street Journal editorial which also doesn't mention the bank's basic function.

Sarah reads? Oh my, did Couric hear this? Nice to see the administration recognizing the prominence of former Governor Palin. I agree that they should respond to everything she says since she IS leading the opposition.

[GoCards]

Ben Smith been busy, lol.