"......After being idled for five months, EXIM won a four-year renewal of its charter last week as part of a transportation funding bill, thwarting conservative Republicans' campaign to close the trade bank and end what they called its "corporate welfare."
But by holding up the board nominations, Shelby could effectively shut EXIM out of aiding many of the big industrial companies that fought hard to revive the bank, including Boeing Co. (BA.N), General Electric Co. (GE.N) and Caterpillar Inc (CAT.N).
Two directors' terms expired during the bank's effective shutdown this year, leaving only two of five seats filled. The bank would need at least one nominee confirmed by the Senate to achieve a quorum and resume loans above $10 million.
Until then, it can support smaller exporters, but not deals such as a $350 million GE locomotive sale to Angola or a 27-jet Boeing order from Ethopian Airlines with a list price of $3.8 billion.
"I'm in no hurry," Shelby told Reuters of his plans to take up the EXIM board nominations. "They won't be moving fast, if at all."
The Alabama Republican, who opposed EXIM's revival, said the bank's nominees are a "lower priority" than other confirmations pending before the committee, including two Federal Reserve Board members, two Securities and Exchange Commission members and the U.S. Treasury's top anti-terrorist financing official.".......
Great article and great Senator in Richard Shelby of Alabama.