Member Corner

At his event in Seattle tonight, it won’t be surprising if President Obama praises the Export-Import Bank as a “jobs creator” that “doesn’t cost taxpayers anything.” It’s a far cry from how he used to describe the Export-Import Bank – as “little more than a fund for corporate welfare.” The President may hope that his audience is unfamiliar with those remarks.  He may also hope they… Read more »

On Wednesday at 10:00 a.m. the Full Committee will hold a hearing to assess the impact of the Dodd-Frank Act on its four-year anniversary. To view the committee staff report on “too big to fail” that was released today, click here. On Thursday at 10:00 a.m. the Capital Markets and Government Sponsored Enterprises Subcommittee will hold a hearing to examine the SEC’s Division of… Read more »

With One Hand U.S. Sanctions Russian Companies, But With the Other…     The Export-Import Bank is financing deals with Russian companies hit by U.S. sanctions this past week.   Two of the four Russian firms targeted with new sanctions announced last week by the Obama administration have received more than $1 billion in U.S. taxpayer-financed subsidies from the… Read more »

Full Committee Receives Semi-Annual Testimony on Monetary Policy and the State of the Economy  On Wednesday, the full committee held a hearing to receive the semi-annual testimony from Federal Reserve Chair Janet Yellen on the conduct of monetary policy and the state of the economy.  Members of the committee called attention to the Federal Reserve… Read more »

Ex-Im and the Democratic Republic of the Congo     President Obama and the First Lady pose with Denis Sassou-Nguesso, President of the DRC, and his wife, Mrs. Antoinette Sassou-Nguesso.   The U.S. Statement Department reports the… Read more »

$10.3 Million: Ex-Im Acted “Fast” for Crony-Connected Solyndra   “Ugh.”  That’s exactly how taxpayers feel after losing money not just once but twice on the crony-connected and now-failed solar panel manufacturer Solyndra. Interestingly, both projects for Solyndra were dealt with rather… Read more »

House Financial Services Committee Chairman Jeb Hensarling appeared this morning on CNBC’s Squawk on the Street to discuss the Committee’s Federal Reserve Centennial Oversight Project and the fourth anniversary of the Dodd-Frank Act being signed into law.   CLICK HERE TO WATCH Hensarling on… Read more »

Why Are American Taxpayers Financing an Aquarium in Brazil? A rendering of the Acquario Aquarium in Fortaleza, Brazil (Ex-Im Release) Brazilians still embarrassed by their team’s stunning loss to Germany in the World Cup will soon be able to seek refuge in this “spectacular… Read more »

 e·gre·gious -- outstandingly bad; shocking It pays to have cronies in high places, especially at the Export-Import Bank it seems. The Ex-Im Bank gave millions in taxpayer-backed loans for Spanish green energy company Abengoa International – while former Gov. Bill Richardson (D-NM)… Read more »

Inaccuracy #1: “When the U.S. Consumer Financial Protection Bureau opened in 2011, the best available government office space large enough to accommodate its thousand-plus employees was a run-down concrete building on G Street near the White House that once housed the now-defunct Office of Thrift Supervision.” Facts:  The House Financial Services Committee has investigated whether… Read more »