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Offlinestarfire_xes
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Import-Export Bank--Big Crony Capitalism
    #21768446 - 06/06/15 12:43 AM (8 years, 7 months ago)

The IM-EX Bank exists for one purpose--to make money for certain big companies, i.e Boeing, etc.

Here's how it works:  If for example, Boeing wants to sell airplanes to the Country of Bumfuck, for say, 1 Billion dollars, the IM-EX Bank can make a loan to that country. 

Boeing sells the planes, gets the money from the IM-EX bank, and everyone is happy. 

But say the country defaults on the loan what happens?  The US Taxpayer takes it up the asshole, and pays the loan guarantee back.  So, The Country of Bumfuck Wins, Boeing Wins, and the Bank wins--and we, the people get butt-raped by the crony capitalists.  :highfive:

who supports this?  So far, I've determined that these people are against it:  Ted Cruz, Rand Paul, Bernie Sanders.

And these candidates/possible candidates support it:  Most republicans, Hillary, and Elizabeth Warren.

Discuss.


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InvisibleShins
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Re: Import-Export Bank--Big Crony Capitalism [Re: starfire_xes] * 1
    #21774049 - 06/07/15 01:20 PM (8 years, 7 months ago)

I object to you calling them capitalists.


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OfflineFalcon91Wolvrn03
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Re: Import-Export Bank--Big Crony Capitalism [Re: starfire_xes]
    #21776837 - 06/08/15 12:24 AM (8 years, 7 months ago)

Quote:

starfire_xes said:
say the country defaults on the loan what happens?  The US Taxpayer takes it up the asshole, and pays the loan guarantee back.  So, The Country of Bumfuck Wins, Boeing Wins, and the Bank wins--and we, the people get butt-raped by the crony capitalists.



How much has the IM-EX bank cost the taxpayer over the last 20 years?  Zero.

How many US jobs has it created?  A lot more than zero.  :shrug:

I don't know too much about the IM-EX bank, but I believe your statements are false.


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I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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Offlinestarfire_xes
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Re: Import-Export Bank--Big Crony Capitalism [Re: Falcon91Wolvrn03]
    #21777020 - 06/08/15 01:41 AM (8 years, 7 months ago)

You believe wrong then.  If IM makes a loan and it defaults, the US Taxpayer picks up the tab.  ANd about 20% off all the loans go to support Boeing.

Whatever the case, the taxpayer shouldn't be on the hook for risk-free loans that benefit big corporations.

And when did you become a crony capitalist? :smirk:


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OfflineFalcon91Wolvrn03
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Re: Import-Export Bank--Big Crony Capitalism [Re: starfire_xes]
    #21778252 - 06/08/15 10:58 AM (8 years, 7 months ago)

Quote:

starfire_xes said:
Quote:

Falcon91Wolvrn03 said:
Quote:

starfire_xes said:
say the country defaults on the loan what happens?  The US Taxpayer takes it up the asshole, and pays the loan guarantee back.  So, The Country of Bumfuck Wins, Boeing Wins, and the Bank wins--and we, the people get butt-raped by the crony capitalists.



How much has the IM-EX bank cost the taxpayer over the last 20 years?



If IM makes a loan and it defaults, the US Taxpayer picks up the tab.



I'll ask again - how much has the EM-EX bank cost the taxpayer over the last 20 years?

Quote:

starfire_xes said:
And when did you become a crony capitalist? :smirk:



I'm not.  Like I said, I don't know too much about the IM-EX bank and whether I even support it or not, but the negatives I've heard here appear to be false so far.


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.


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