OAN– WASHINGTON (Reuters) – Seven conservative Republican senators demanded on Wednesday that the U.S. Export-Import Bank disclose plans to begin liquidating its assets after the government trade lender’s charter expired amid congressional inaction.
Ex-Im can no longer seek or process new applications for loans, loan guarantees and trade insurance, but it has said it will stay open to continue servicing $112 billion in existing obligations. The agency’s operating budget has been approved through Sept. 30.
The suspension of Ex-Im’s new business operations on Wednesday marked a partial victory for conservatives campaigning to close the bank, which they say promotes “crony capitalism” and interferes in free markets by subsidizing large, politically connected companies. More
Most citizens have never even heard of this. Levin talks about the evil presence and use of the import-export bank. Thanks for this… sending it onward to others.
Little Tommy Donahue is sitting in his highchair at the Chamber of Commerce kicking his little legs and bawling his eyes out.