Quote from: NewLiberty on September 21, 2014, 08:46:14 PM

Quote from: toleng on September 20, 2014, 08:15:44 PM

Quote from: NewLiberty on September 20, 2014, 08:00:43 PM

Quote from: zorke on September 20, 2014, 03:15:54 AM

Quote from: NewLiberty on September 18, 2014, 06:51:13 AM

Quote from: zorke on September 18, 2014, 05:01:14 AM

Quote from: NewLiberty on September 17, 2014, 06:02:52 AM

Quote from: itsAj on September 17, 2014, 04:04:04 AM

The reason the government is involved in the export-import bank is because other countries could economically attack the US if they were to engage in a trade war. If a country (say China) were to get it's companies to order a lot of American products with no intention of paying for them nor taking delivery of them then the US government can use it's political influence to get this to stop and reverse this policy of China (in this scenario). The private sector would not be able to exert this influence.

The ex-im bank is in no way required for political action regarding this concern.

If the ex-im bank is going to take a loss because a country is cancelling orders from US companies in mass, then the US government would likely contact the country via diplomatic channels to try to get these order cancellations to stop.

I'm baffled as to why you think the government needs the ex-im bank for an excuse to do this.
If this is the reason we need it, it is the flimsiest justification for it yet.
Creating a intermediary bureaucracy so that it can lose money in order to give a reason for foreign policy action?

Even the more obvious justification is better, as a means to extract donations from corporations to political campaigns, and a way to channel the extracted wealth of citizens to advance those interests. At least there is some perverse logic to that.

It will not lose money. It can use the influence of the government to prevent it from losing money. Private sector insurers would not have this influence.

That people think this is a good thing is also astounding..
How far we have fallen.

How would this not be a good thing? The government protecting the american economy from foreign governments can only be a good thing unless you wish to see the economy fail/decline

A few companies in the pockets of a few government employees !== the US economy.
If the US economy is threatened, the ex-im bank is not a significant factor other than as a measurement tool.
It should not be a government entity.
It should not be subject to political influence and corruption.

It is as wrong when we do it as when "the other guy" does it.
Why be in a race to burn moral authority for no marginal gain and only increased moral hazards?

In reality, the only entity that can protect the US economy from other government aggressors is the US government. This has nothing to do with domestic politics. The ex-im bank protects the US economy from trade war with other countries. You are implying that AIG and other insurance companies should be able to protect itself and fight in War with other countries.