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Eric Cantor’s Loss Reverberates at Boeing, Biggest Beneficiary of Export-Import Bank Subsidies
Boeing, the biggest beneficiary of the U.S. Export-Import Bank, watched its stock drop by the biggest margin in months following House Majority Leader Eric Cantor’s primary election defeat Tuesday. A federal agency that subsidizes American exports, the Export-Import Bank regularly subsidizes Boeing’s foreign sales. Just last month, Boeing announced the bank would underwrite $10 billion in new business for the aviation giant. (dailysignal.com) Más...
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That's using the term "bank" loosely.
Think "Piggy Bank", politically correct term for slush fund.
Why should American tax payers subsidize or help foreign airlines buy airplanes at cheap rates. When US airlines are not allowed to get the same good deals that foreign airlines are allowed to get.
At least there is some US employment attached to these...more than one can say for dollar grants (borrowed from the Chinese) to Pakistan etc. where the US taxpayer works now and for generations to ship cash to a corrupt government. Actually both kinds should end until our own citizens are secure.
