A government agency dedicated to backing up bank loans, in an effort to boost one “crucial” sector of the U.S. economy? Why not? Especially because it has a great record, to date, of very few defaults. We promise, the taxpayers’ money is not at risk.
Meet the Export-Import Bank of the United States, with many billions in outstanding guarantees and loans to foreign companies and foreign governments. Obama’s Ex-Im chairman wants to do more financing. Bloomberg reports:
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