The Koch brothers have put out a web video praising Bernie Sanders [View all]

[pnwmom]

Last edited Sat Apr 2, 2016, 01:07 AM - Edit history (3)

for opposing the Export-Import ban. The Koch brothers are posing as populists, and they are using their common ground with Bernie on this issue to draw support for their cause.

The bank gives out many loans to US exporters, including to Seattle-based Boeing to help it compete for airplane sales with European Airbus, which gets similar financing from Europe. AND the Export Import bank returns a PROFIT to the US treasury.

The Koch brothers want to help Airbus, which is now building planes in Alabama -- so they want to make it harder for Airbus's American competitor, Boeing to compete. That's why they're attacking the Export Import bank.

The mystery is why Bernie is. What does he have against Boeing Commercial Airplane company selling planes all over the world and producing tens of thousands of good jobs here?

The Export Import Bank isn't "corporate welfare" -- it gives out loans, not charity. Elizabeth Warren, unlike Bernie, supports the Export Import bank -- which, I repeat, lends out to money to major exporters and makes a PROFIT on its loans.

AND GUESS WHO STARTED THE EXPORT-IMPORT BANK: FRANKLIN DELANO ROOSEVELT.

http://www.politico.com/blogs/2016-dem-primary-live-updates-and-results/2016/03/koch-brothers-bernie-sanders-220498

The group at the center of the Koch brothers' vast political network is praising Bernie Sanders for opposing the Export-Import Bank and for his attacks on corporate welfare.

Freedom Partners put out the web video highlighting its common ground with the Vermont senator ahead of Wednesday night's Democratic debate.

The video features a clip of Sanders responding to a question from the previous debate about why he opposed the Export-Import bank, a favorite punching bag of the Koch brothers. Sanders' stance has put him at odds with many of his fellow Senate Democrats, including Elizabeth Warren.

"I don't want to break the bad news, but Democrats are not always right," Sanders says in the clip. "Democrats have often supported corporate welfare."

SNIP

ABOUT THE EXPORT IMPORT BANK

http://www.pbs.org/newshour/making-sense/5-things-know-controversial-export-import-bank/

Conservatives say the Export-Import Bank amounts to corporate welfare, pointing out that the companies that benefit include major corporations like Boeing, Caterpillar and GE which they say can support themselves without taxpayers’ help.

But supporters of the bank, including groups like the Chamber of Commerce and National Association of Manufacturers, point out that most other countries have export credit agencies, in some cases more generous than the U.S. version. Supporters say it will be harder for U.S. companies to compete overseas if their competitors are supported by the government and they aren’t.

The bank says that last year it authorized $20 billion worth of transactions which supported $27.5 billion of U.S. exports and 164,000 U.S. jobs. And it says it has a default rate of less than 1 percent.
Opponents argue that the bank mostly helps big businesses. Of the $20.5 billion in financing and insurance authorized by the bank in 2014, just over $5 billion of that was for small business exporters, according to bank officials. But if the transactions themselves are counted up, more small businesses are helped than big ones. It’s just that the amounts spent on them are smaller.



4. The bank wasn’t a political target until the Tea Party came to power.

In past years the bank was renewed with little or no controversy and sometimes without so much as a roll-call vote. But after a tea party-infused GOP majority retook the House in 2010, conservatives began seizing on the bank as crony capitalism and a federal agency ripe for elimination, making a 2012 reauthorization vote a struggle for the first time.

Outside groups like Club for Growth and Heritage Action for America made it an issue, and this year, with Republicans in control of the Senate and a presidential campaign underway, conservatives have targeted the Export-Import Bank even more assertively.