Congress Kills 81 year old EXIM Bank-US Jobs fleeing to France, China, etc.

[Camp]

With help from the Tea Party amateurs and fools, the Republican Congress has killed the 81 year old Export Import Bank and left the US as the only industrial nation without such a bank to advance and promote job creating businesses. The US EXIM Bank was created during the New Deal era and served the US economy ever since. Because of it's great success at job creation, it was copied by virtually every major country in the world.
Jobs are leaving the US to qualify for better deals from foreign countries like France now that the EXIM has been put out of service. GE has announced 500 jobs are leaving the US and going to France. Boeing has also announced hundreds of jobs going overseas due to the failure of Congress to keep the bank operating.

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Background and commentary below

leehamnews.com/2015/07/06/pontifications-exim-reform/

 

[The Irish Ram]

 

[g5000]

With help from the Tea Party amateurs and fools, the Republican Congress has killed the 81 year old Export Import Bank and left the US as the only industrial nation without such a bank to advance and promote job creating businesses. The US EXIM Bank was created during the New Deal era and served the US economy ever since. Because of it's great success at job creation, it was copied by virtually every major country in the world.
Jobs are leaving the US to qualify for better deals from foreign countries like France now that the EXIM has been put out of service. GE has announced 500 jobs are leaving the US and going to France. Boeing has also announced hundreds of jobs going overseas due to the failure of Congress to keep the bank operating.

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Background and commentary below

leehamnews.com/2015/07/06/pontifications-exim-reform/

Don't drink the bongwater.

See my OP and second post here: The Export-Import Bank | US Message Board - Political Discussion Forum

 

[g5000]

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Wow! That article actually proves the points I made in the topic to which I linked in my previous post.

Please explain why General Electric, a multi-billion dollar company, needs a government subsidy, other than to give them a special advantage over competitors.

A prime example of the legislative tilting of the playing field to the advantage of a select few.

 

[ScienceRocks]

With help from the Tea Party amateurs and fools, the Republican Congress has killed the 81 year old Export Import Bank and left the US as the only industrial nation without such a bank to advance and promote job creating businesses. The US EXIM Bank was created during the New Deal era and served the US economy ever since. Because of it's great success at job creation, it was copied by virtually every major country in the world.
Jobs are leaving the US to qualify for better deals from foreign countries like France now that the EXIM has been put out of service. GE has announced 500 jobs are leaving the US and going to France. Boeing has also announced hundreds of jobs going overseas due to the failure of Congress to keep the bank operating.

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Background and commentary below

leehamnews.com/2015/07/06/pontifications-exim-reform/

Loserterians don't care if it is good for America...They only care about gutting America. This is why they must be defeated.

 

[boedicca]

Exim bank is just Big Government Corporate Crony Welfare.

It's good that it's going away.

 

[g5000]

With help from the Tea Party amateurs and fools, the Republican Congress has killed the 81 year old Export Import Bank and left the US as the only industrial nation without such a bank to advance and promote job creating businesses. The US EXIM Bank was created during the New Deal era and served the US economy ever since. Because of it's great success at job creation, it was copied by virtually every major country in the world.
Jobs are leaving the US to qualify for better deals from foreign countries like France now that the EXIM has been put out of service. GE has announced 500 jobs are leaving the US and going to France. Boeing has also announced hundreds of jobs going overseas due to the failure of Congress to keep the bank operating.

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Background and commentary below

leehamnews.com/2015/07/06/pontifications-exim-reform/

Loserterians don't care if it is good for America...They only care about gutting America. This is why they must be defeated.

Ex-Im was supposed to help small businesses, not giant corporations. Every time Ex-Im's charter renewal came up, that's what the whiners in the big corporations' pockets claimed.

Please explain what qualifies GE as a small business.

This should be fun.

 

[g5000]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

 

[Camp]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

Are we throwing the baby out with the bath water? Was there no chance of reform and adjustment that could have preserved the original intent but gotten rid of the corruption or 'corporate welfare'?

 

[westwall]

With help from the Tea Party amateurs and fools, the Republican Congress has killed the 81 year old Export Import Bank and left the US as the only industrial nation without such a bank to advance and promote job creating businesses. The US EXIM Bank was created during the New Deal era and served the US economy ever since. Because of it's great success at job creation, it was copied by virtually every major country in the world.
Jobs are leaving the US to qualify for better deals from foreign countries like France now that the EXIM has been put out of service. GE has announced 500 jobs are leaving the US and going to France. Boeing has also announced hundreds of jobs going overseas due to the failure of Congress to keep the bank operating.

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Background and commentary below

leehamnews.com/2015/07/06/pontifications-exim-reform/

Jobs are leaving because of a whole bunch of other reasons. The bank was a waste of taxpayer dollars.

 

[g5000]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

Are we throwing the baby out with the bath water? Was there no chance of reform and adjustment that could have preserved the original intent but gotten rid of the corruption or 'corporate welfare'?

You just whined about GE losing access to Ex-Im. I am still waiting to hear you explain why a multi-billion dollar company deserves a government handout.

The fact you whined about GE not getting a handout any more is exactly why there is no chance of reform.

 

[browsing deer]

Jobs will flock here because they won't get squeezed out anymore by big corporations getting big dollars for inept and lazy enterprises.

 

[Camp]

With help from the Tea Party amateurs and fools, the Republican Congress has killed the 81 year old Export Import Bank and left the US as the only industrial nation without such a bank to advance and promote job creating businesses. The US EXIM Bank was created during the New Deal era and served the US economy ever since. Because of it's great success at job creation, it was copied by virtually every major country in the world.
Jobs are leaving the US to qualify for better deals from foreign countries like France now that the EXIM has been put out of service. GE has announced 500 jobs are leaving the US and going to France. Boeing has also announced hundreds of jobs going overseas due to the failure of Congress to keep the bank operating.

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Background and commentary below

leehamnews.com/2015/07/06/pontifications-exim-reform/

Jobs are leaving because of a whole bunch of other reasons. The bank was a waste of taxpayer dollars.

It was made to work for 81 years by both Republican and Democrat congress's and Presidents. Every industrial nation in the world has their own EXIM Bank. For some reason a fractured Republican controlled congress that spends more time fighting each other and accomplishes virtually nothing can not get together and figure out a way to reform and adjust the EXIM Bank. We are to believe that the amateur Tea Party editions to our Congress are smarter than the previous 81 years of congresses and congress people and smarter that all the other nations of the world. And in the meantime all those companies collecting corporate welfare will continue to collect corporate welfare. A portion of it won't be doled out by the Executive branch. It will be doled out by congress. That is what this is all about, a turf battle between the congress and the executive branches.
BTW, GE made the announcement about why they were closing shop in the USA for 500 workers and sending those specific jobs to France. They did that this afternoon. Jobs might be leaving for lots of reasons, but this is a new one that we really didn't need right now.

 

[Camp]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

Are we throwing the baby out with the bath water? Was there no chance of reform and adjustment that could have preserved the original intent but gotten rid of the corruption or 'corporate welfare'?

You just whined about GE losing access to Ex-Im. I am still waiting to hear you explain why a multi-billion dollar company deserves a government handout.

The fact you whined about GE not getting a handout any more is exactly why there is no chance of reform.

I wasn't whining and I don't think GE should be getting corporate welfare. I also don't think an entire program and agency needs to be shut down because Congress hasn't been doing it's job and overseeing to make appropriate changes and reforms. They could have very easily put restriction on the bank so that they would not be allowed to give huge loans to huge companies that don't need or deserve to welfare.

 

[westwall]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

Are we throwing the baby out with the bath water? Was there no chance of reform and adjustment that could have preserved the original intent but gotten rid of the corruption or 'corporate welfare'?

You just whined about GE losing access to Ex-Im. I am still waiting to hear you explain why a multi-billion dollar company deserves a government handout.

The fact you whined about GE not getting a handout any more is exactly why there is no chance of reform.

I wasn't whining and I don't think GE should be getting corporate welfare. I also don't think an entire program and agency needs to be shut down because Congress hasn't been doing it's job and overseeing to make appropriate changes and reforms. They could have very easily put restriction on the bank so that they would not be allowed to give huge loans to huge companies that don't need or deserve to welfare.

You do realize that there are plenty of venture capitalists out there right? That is their job, seek out businesses that are worth investing in. The difference, of course, is they require oversight. Ex-Im didn't so had a high rate of failure. But the biggest problem was the massive multi-national corporate fraud. Otherwise known as corporate welfare.

 

[Camp]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

Are we throwing the baby out with the bath water? Was there no chance of reform and adjustment that could have preserved the original intent but gotten rid of the corruption or 'corporate welfare'?

You just whined about GE losing access to Ex-Im. I am still waiting to hear you explain why a multi-billion dollar company deserves a government handout.

The fact you whined about GE not getting a handout any more is exactly why there is no chance of reform.

I wasn't whining and I don't think GE should be getting corporate welfare. I also don't think an entire program and agency needs to be shut down because Congress hasn't been doing it's job and overseeing to make appropriate changes and reforms. They could have very easily put restriction on the bank so that they would not be allowed to give huge loans to huge companies that don't need or deserve to welfare.

You do realize that there are plenty of venture capitalists out there right? That is their job, seek out businesses that are worth investing in. The difference, of course, is they require oversight. Ex-Im didn't so had a high rate of failure. But the biggest problem was the massive multi-national corporate fraud. Otherwise known as corporate welfare.

I have not seen this claim of a high rate of failure. What I have read indicates the exact opposite. Almost a non existent rate of failure. It is in the second link I provided in the OP.
I am also not aware of the massive multi national corporate fraud you mention. I have only read a limited amount of articles on this subject and it is not my expertise. I read everything that g5000 recommended or linked. If you have links to the data about the high rate of failure and massive fraud go ahead and post the links . I would be happy to check them out.

 

[g5000]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

Are we throwing the baby out with the bath water? Was there no chance of reform and adjustment that could have preserved the original intent but gotten rid of the corruption or 'corporate welfare'?

You just whined about GE losing access to Ex-Im. I am still waiting to hear you explain why a multi-billion dollar company deserves a government handout.

The fact you whined about GE not getting a handout any more is exactly why there is no chance of reform.

I wasn't whining and I don't think GE should be getting corporate welfare. I also don't think an entire program and agency needs to be shut down because Congress hasn't been doing it's job and overseeing to make appropriate changes and reforms. They could have very easily put restriction on the bank so that they would not be allowed to give huge loans to huge companies that don't need or deserve to welfare.

You did whine about GE, right in your OP. You provided GE as a case study of why Ex-Im should not go away!

 

[The Rabbi]

With help from the Tea Party amateurs and fools, the Republican Congress has killed the 81 year old Export Import Bank and left the US as the only industrial nation without such a bank to advance and promote job creating businesses. The US EXIM Bank was created during the New Deal era and served the US economy ever since. Because of it's great success at job creation, it was copied by virtually every major country in the world.
Jobs are leaving the US to qualify for better deals from foreign countries like France now that the EXIM has been put out of service. GE has announced 500 jobs are leaving the US and going to France. Boeing has also announced hundreds of jobs going overseas due to the failure of Congress to keep the bank operating.

reuters.com/article/2015/09/15/us-usa-ge-eximbank-idUSKCN0RF1KF20150915

Background and commentary below

leehamnews.com/2015/07/06/pontifications-exim-reform/

And people say the GOP is a do-nothing Congress.
This is great! But who knew that Democrats were in favor of crony capitalism and sending billions to big corporations?

 

[whitehall]

EXIM is a federal agency something like Fannie Mae. We'll probably never know but it might be in as much trouble as Fannie when Barney Frank lied to us that it was solvent. EXIM was created during the depression when there were no other U.S. banks capable of making loans in excess of $100. Don't tell me G.E. can't get credit from any other bank except the one run by the freaking government. I'm sure G.E. is a pretty good credit risk. Are they using EXIM as an excuse to ship jobs overseas?

 

[Camp]

Seriously, read the first two posts I made in my topic about Ex-Im: The Export-Import Bank | US Message Board - Political Discussion Forum

Open your eyes.

Are we throwing the baby out with the bath water? Was there no chance of reform and adjustment that could have preserved the original intent but gotten rid of the corruption or 'corporate welfare'?

You just whined about GE losing access to Ex-Im. I am still waiting to hear you explain why a multi-billion dollar company deserves a government handout.

The fact you whined about GE not getting a handout any more is exactly why there is no chance of reform.

I wasn't whining and I don't think GE should be getting corporate welfare. I also don't think an entire program and agency needs to be shut down because Congress hasn't been doing it's job and overseeing to make appropriate changes and reforms. They could have very easily put restriction on the bank so that they would not be allowed to give huge loans to huge companies that don't need or deserve to welfare.

You did whine about GE, right in your OP. You provided GE as a case study of why Ex-Im should not go away!

I referred to what the Reuter article link was as quoted by GE in an article from that morning. That is not whining. You said yourself that the article supported your opinions and side of the controversy. The second link gave some background information on the topic. The link and comments in the OP were meant to open a discussion on the topic.
No one has said or post links to anything that changes my impression that this issue is a turf battle between the congress and the executive branch. The executive branch has had control of the EXIM and the Republican congress led by the Tea Party has trashed the program without replacing it with anything.