Bad Move Mr. President: Senate revives beleaguered export bank after push by Trump
This might be the one issue where Trump and Maxine Waters (who lobbied hard to keep the bank alive – she has aerospace interests in her district) see eye to eye. The Import Export Bank of the United States is often called “Boeing’s Bank”. Though it is used to finance sweetheart deals for other giant corporations too. It almost died a few years ago but a few of the most crony in Congress saved it from total death.
(From Politico)
The Senate on Wednesday agreed to replenish the board of the hobbled Export-Import Bank with three Trump appointees, after Republican opponents spent years blocking nominees to lead the trade-finance agency.
The bank, which has provided billions of dollars in loan guarantees to foreign buyers of U.S. exports, will now be able to return to full operation for the first time since 2015, when its board lost a quorum necessary to approve transactions larger than $10 million.
Reprinted from: https://www.ac2news.com/2019/05/bad-move-mr-president-senate-revives-beleaguered-export-bank-after-push-by-trump/
