Pamelaantoinette
User ID: 59442453
 United States
07/24/2015 06:53 PM
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Report Copyright Violation | Can Someone please explain why the import export bank is bad? I really want to understand why loaning American dollars to foreigners is bad? It helps our exports and reinforces the dollars place as the world's reserve currency because foreign firms will hold debt in Dollars!
Also if you have exported most of your manufacturing, why would you want to encourage exports from the U.S.???
Exported manufacturing meaning offshoring.
Really I need to understand, I see all this crap on the news and I don't understand how this is bad for the U.S. Average tax payer. Please explain it to me in layman so terms. |
Anonymous Coward
User ID: 69860846
United States
07/24/2015 06:54 PM
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Report Copyright Violation | Re: Can Someone please explain why the import export bank is bad? interest and usury...they loan money that costs them very little print and loan it out at high interest. |
Pamelaantoinette
(OP)
User ID: 59442453
United States
07/24/2015 07:02 PM
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Report Copyright Violation | Re: Can Someone please explain why the import export bank is bad? interest and usury...they loan money that costs them very little print and loan it out at high interest.
Quoting: Anonymous Coward 69860846 But to foreign companies buying U.S. exports. We need to be able to export and create jobs. |
twortle
User ID: 9281251
United States
07/24/2015 07:15 PM
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Report Copyright Violation | Re: Can Someone please explain why the import export bank is bad?
Because if the country we loan money to, say...mmm...Liberia. Let's say the Import Export Bank Loans them $300 million to buy planes for Boeing, and then Liberia defaults on the loan, we as Americans pay the loan back for them. We are co-signers on the loan. We shoulder all the financial risk while Boeing reaps the rewards for its shareholders. And the companies that can use the bank as the intermediary are all politically connected...called crony capitalism. The US Constitution does not allow the Federal government to put us on the hook. Your papers appear to be in order
"It's all fun and games...until we have to cover it up" |
