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Friday
Apr152016

Ex-Im Bank, Scorned as Wasteful, Spends $75,000 to Lease a Car

2011 Toyota Land Cruiser$75,000 leases a very nice car

Looks like the leadership of the Import-Export Bank is exceedingly sensitive to the fact that little more than a quarter of the public wanted the U.S. Import-Export Bank to be reauthorized.

Yes, I'm being sarcastic.

If I ran Boeing, General Electric, Exxon Mobil, Caterpillar or any of the other firms benefiting from Ex-Im bank loans for foreign businesses and governments,* I'd tell the Ex-Im Bank leadership not to do things like spend $75,000 in taxpayers' money leasing a luxury vehicle.

Because, you know, Ex-Im Bank backers' rhetoric about how they wanted the bank reauthorized just to help the little guy might seem a bit more sincere if they don't screw the same little guys by using their tax dollars on fancy cars.

*Note: Ex-Im Bank backers will want me to note that the loans are made so foreign businesses and governments can buy U.S. firms' products.

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