Boeing's Bank

http://www.futureofcapitalism.com/2010/03/boeings-bank

President Obama will speak tomorrow at the annual conference of the Export-Import Bank. The Washington Examiner's Timothy Carney examines just exactly what the Export-Import Bank is, and find what he calls "an unparalleled case of corporate welfare -- a government program dedicated almost entirely to serving one well-connected company. Of the $9.3 billion in loan guarantees Ex-Im issued in fiscal 2009, $8.4 billion subsidized Boeing sales."

Update: The Wall Street Journal editorial page is also worked up over Boeing today, on a Pentagon procurement issue.

by Editor  |  Mar 10, 2010 at 8:28 am Related Topics:  Banking, President Obama, Press, Reverse Robin-Hood receive the latest by email: subscribe to the free futureofcapitalism.com mailing list