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Author Topic: Obama pay's back Soros  (Read 716 times)

Offline Irwin

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Fight organized crime!  Re-elect no one.

Online kathyp

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Re: Obama pay's back Soros
« Reply #1 on: September 10, 2010, 07:44:46 PM »
that story came out quite a while back.  soros is a big share holder and benefits not only from the drilling being stopped, but from the tax payer funded support of the company in Brazil that will do DEEP WATER drilling in the gulf. 
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Offline winginit

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Re: Obama pay's back Soros
« Reply #2 on: September 11, 2010, 09:39:46 AM »
This is an US Export-Import Bank loan, not a presidential loan. Ex-Im actually makes money AND supports US industry. http://www.factcheck.org/2009/09/bogus-brazilian-oil-claims/

Ex-Im debt must be used to purchase US goods (equipment not services). Other bi-lateral lending agencies from other countries do the same thing to support their countries' exports. Picture this: as you are putting together a plan for funding your investment, you get bids for the equipment from different countries and you go visit all the bi-laterals and compare the cost of their debt. You also look at tax issues, exchange rates, etc. You put together the best deal-- eg highest ROI -- you can. Alternatively, let's say you are a US company bidding on the deal. You might include the cost of financing in your bid. So you visit Ex-Im and try to structure your bid so it will qualify for Ex-Im debt, which is cheaper than commercial lenders but definitely not cheaper than other bi-lateral agencies. Ex-Im expects to get paid back and is pretty conservative. 

Sometimes, another country's lending agency will "buy" the project, offering such a sweet deal that the US companies can't even compete. They do this to support their industry; France comes to mind. Ex-Im Bank does not; it has traditionally been very conservative.

Petrobras has announced plans to invest $45 billion/year over the next five years, $12 billion sourced from outside the country. Looks like the US is trying hard to get a bigger share of the pie. We could use it.

US exports to Brazil: