Home / Business Focus
Sun, Sep 01, 2002 - Page 12 News List

Export-Import Bank: A guardian of jobs or a `reverse Robin Hood'

The bank faces a growing chorus of critics who say the institution has become a tool for an elite group of politically well-connected corporations to get sweetheart deals

By Leslie Wayne  /  NY TIMES NEWS SERVICE , WASHINGTON

It's no accident that the votes are so lopsided.

"As a staff member for a congressman, you can call up Ex-Im and say, `My congressman represents District 13 in the state of whatever,'" said a Treasury official. "They will spit out a report saying, `Here are the businesses by name in your district that receive Ex-Im help.' The bank is politically savvy. It's active in promoting its products in each congressional district."

The bank also knows how to make individual legislators look good before voters. One of its biggest outreach efforts is seminars throughout the country, about one a week, that bring together local executives and Export-Import officials to promote its programs. Whom does it also invite, to show voters the benefits that Washington brings to Main Street? Each district's local congressional delegation, which can take credit for what Export-Import has done.

This story has been viewed 3240 times.
TOP top