Thursday, November 13, 2014

Oh Look: Ex-Im Money Isn't Really Going to Small Businesses

Oh Look: Ex-Im Money Isn't Really Going to Small Businesses: For months, I have been beating the drum about the fact that Ex-Im conceals handouts to large corporations under the guise of “small-business lending.” Contrary to Ex-Im’s claims, the bulk of its activities isn't about helping small businesses at all -- the bank quite obviously prioritizes redistributing wealth to large domestic and foreign corporations. Bank defenders argue that 90 percent of its deals benefit small firms, but by dollar value, it's less than 20 percent of the benefits that go to small businesses, actually violating the bank's charter. And Ex-Im’s definition of "small business" is considerably more expansive the one

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