Twelve hundred bankers, CEOs, lobbyists and other businessmen gathered at a Washington hotel this week to hear from leading politicians and corporate titans, to network, and to rally to save their federal subsidies. At the 80th Annual Conference of the Export-Import Bank, there was broad agreement that the agency is a good thing, and that Congress should renew its charter this fall. At Ex-Im, we want to be the wind in your sails. “I have a hard time finding whats wrong with this model,” Wells Fargo CEO John Stumpf said of Ex-Im, which guarantees loans banks like Wells Fargo make to foreign buyers of U.S. good. “How can we not be for American jobs? But many Republican lawmakers -- including Senate Minority Leader Mitch McConnell and House Financial Services Committee Chairman Jeb Hensarling -- opposed Ex-Ims reauthorization in 2012, and conservative groups like Heritage Action and the Club for Growth are fighting to kill the agency.
Posted on: Mon, 28 Apr 2014 12:27:19 +0000
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