OT: U.S. might kill Russian oil loans

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http://www.washingtonpost.com/wp-srv/WPlate/1999-12/19/237l-121999-idx.html

[Fair use: For Educational/Research purposes only]

U.S. Might Kill Russian Oil Loans Clinton May ForceEx-Im Bank Action By Michael Dobbs and Dan Morgan Washington Post Staff Writers

Sunday, December 19, 1999; Page A01 The Clinton administration is agonizing over whether to force the U.S. Export-Import Bank to drop $500 million in loan guarantees to an upstart Siberian oil company amid mounting international criticism of Russia's aggressive military campaign in Chechnya. The Ex-Im Bank has scheduled a board meeting Tuesday to make a decision on the long-planned loan guarantees to the Tyumen Oil Co., which Western competitors have accused of unfair business practices. Bank officials, who pride themselves on their independence from the executive branch, plan to go ahead with the deal barring a last-minute intervention by the administration.

Snip

I'm here for an education. Much has been stated about the independence of the Federal Reserve. Could someone enlighten me concerning the Export-Import Bank? Sounds like another layer on the taxpayers' debt.

-- Tommy Rogers (Been there@Just a Thought.com), December 19, 1999

Answers

Excuse my ignorance of international affairs...but why do we do ANY business - especially loan money to - a country that has missles aimed at us? Especially when the leader of that country is a drunken son-of-a-bitch with his finger on the trigger.

-- (rcarver@inacom.com), December 19, 1999.

Not sure of this agency, either.

Best example of a US taxpayer-funded agency being used to royally screw over the American worker still has to be OPIC--Overseas Private Investors Corporation.

That is where a poor starving American company can apply for a grant to OPIC to USE THE MONEY TO RE-LOCATE THE FACTORY OVERSEAS!

Great deal, huh?

Replace the "high-paid" American help with 25 cent/hr slaves, yet re-sell the SAME product into the US marketplace AT THE SAME PRICE!

A true WIN-WIN situation, but only IF you are the factory owner.

Since NIKE went from 100% US factories in the early 1980's to 100% FOREIGN factories, have you seen a commensurate DROP in the PRICE of the shoes they sell in the USA?

-- profit of doom (doom@helltopay.ca), December 19, 1999.


That's what I love about this forum, we never miss a trick. Now I had previously heard that the ONLY crude oil that was loading at Iraqi ports was the stuff destined for Ivan's coffers.

Put two and two together and you have a little pressure on Boris ala graft cutoff for oil. My guess would be that we're turning some screws here that won't matter much. Since Boris is in bed with Sadamm (god, what a bad visual that is!) we're giving him some monetary grief. It won't matter though because the guy's on his way our and he already got billions. It does point up another indicator of how stressed our financial markets are due to rising crude oil prices. We're flat out desparate.

-- Gordon (g_gecko_69@hotmail.com), December 19, 1999.


You are right, Carver. We do have our missiles pointed at you. Now you will please give us 13 billion dollars to us so we can fix our Y2K problem, or all our missiles could go KA-BOOM!! Ooops, we are so very, very sorry.

-- (Boris@show.me.the.$$$), December 19, 1999.

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