“Ex-Im Bank is a competitor.” Michael Kraemer is banker at American International Group, and he was manning his company’s booth at this year’s Export-Import Bank annual conference.
AIG shelled out for a booth at the event in an effort to advertise itself to the U.S. exporters that attend the conference, because among AIG’s products is payment insurance for sellers, including exporters. If you’re selling goods overseas, you might worry about the foreign buyer never paying you, so you buy accounts receivable insurance from a private financial institution like AIG.
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