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Contact: Staff
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Egregious Ex-Im Bank Deal of the Day
Washington,
July 23, 2014 -
| e·gre·gious -- outstandingly bad; shocking. |
The Export-Import Bank – Helping Those
Who Can Help Themselves
Mexican Company Admits It Doesn’t Need Ex-Im’s Help,
But Since It’s Offering… |
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Mexico-based satellite operator known as Satmex announced it doesn’t need a loan from the Export-Import Bank to finance the purchase of Boeing satellites.
But that’s no reason not to take the “free money” financed by hardworking U.S. taxpayers through Ex-Im, is it?
In a conference call with investors, Satmex’s CEO Juan Garcia “said the company is nonetheless still working” to receive “a low-interest loan” from Ex-Im for $255.4 million, according to a report in SpaceNews.
If a company can finance a project without Ex-Im, why should it get money from Ex-Im?
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