Posted On: 06/15/2016 12:36:48 PM
Post# of 22940
News article from yesterday on Ex im bank:
BY THE TRIBUNE-REVIEW
Tuesday, June 14, 2016, 9:00 p.m.
Updated 16 hours ago
Senate apologists for corporate wealthfare have failed again to fully restore the tool of their temerity, the Export-Import Bank. An attempt to bypass the Senate Banking Committee and call a floor vote on a nomination to the bank's board, thereby restoring a quorum, went nowhere.
Senate Banking Committee Chairman Richard Shelby, R-Ala., blocked the attempt by Sen. Heidi Heitkamp, D-N.M., to call a vote on the nomination of J. Mark McWatters to the board. And without a board quorum, the bank cannot approve transactions of more than $10 million.
“We have a lot of little companies that need (the) Ex-Im Bank,” said Sen. Chuck Schumer, D-N.Y., summing up the lament of liberals who schemed to bring the bank back after its charter expired last June. The bank provides taxpayer-backed loans and loan guarantees to foreign countries and companies to purchase U.S. products.
BY THE TRIBUNE-REVIEW
Tuesday, June 14, 2016, 9:00 p.m.
Updated 16 hours ago
Senate apologists for corporate wealthfare have failed again to fully restore the tool of their temerity, the Export-Import Bank. An attempt to bypass the Senate Banking Committee and call a floor vote on a nomination to the bank's board, thereby restoring a quorum, went nowhere.
Senate Banking Committee Chairman Richard Shelby, R-Ala., blocked the attempt by Sen. Heidi Heitkamp, D-N.M., to call a vote on the nomination of J. Mark McWatters to the board. And without a board quorum, the bank cannot approve transactions of more than $10 million.
“We have a lot of little companies that need (the) Ex-Im Bank,” said Sen. Chuck Schumer, D-N.Y., summing up the lament of liberals who schemed to bring the bank back after its charter expired last June. The bank provides taxpayer-backed loans and loan guarantees to foreign countries and companies to purchase U.S. products.
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