US Taxpayer Aid to Warren Buffett and Carlos Slim?

The United States Export-Import Bank is the official export credit agency of the United States. Ex-Im Bank’s mission is to assist in financing the export of U.S. goods and services to international markets.

Ex-Im Bank enables U.S. companies — large and small — to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy.

However, the bank’s mission is to assist companies realize export opportunities and a recent study suggests that it has been aiding companies like those owned by Warren Buffett and Mexco’s Carlos Slim who don’t need tqxpayer help.

What Reuters has uncovered needs further analysis to see whether these smaller companies under larger umbrellas may be deserving.

The Bank says:  “Ex-Im Bank provides working capital guarantees (pre-export financing); export credit insurance; and loan guarantees and direct loans (buyer financing). No transaction is too large or too small. On average, more than 85% of our transactions directly benefit U.S. small businesses.

With 80 years of experience, Ex-Im Bank has supported more than $567 billion of U.S. exports, primarily to developing markets worldwide.”

Buffett

 

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