Obama on Ex-Im bank in '08: Little more than a fund for corporate welfare

When he was running for president in the autumn of 2008, President Obama referred to the Export-Import bank as "Little more than a fund for corporate welfare," as you will learn in this video.

The bank--its federal charter expires on May 31--issued a $10 million loan guarantee to the now-bankrupt solar firm Solyndra for a Belgian project.

Not only did the federally-chartered bank work with Enron before that firm collapsed, it was behind a deal so Enron could sell to--Enron. Yes, you read that right.

Now President Obama want to extend the Ex-Im's charter, which now seems to be a slush fund for the White House so it can gain political favor in an election year.

I prefer the 2008 Obama.

Related posts:

Kill the Export-Import Bank

Export-Import Bank a friend of big business, 'zombie' Air India, and the defunct Soviet Union

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