Why Hillary Clinton Loves the Ex-Im Bank
15th June 2015
Hillary attempts to justify her position by claiming the bank is vital for American exports. According to Clinton, Ex-Im is “a tool for us to be competitive in order to support our businesses exporting.” In reality, the bank’s financing goes to major corporations that do not need loans to be competitive. Over three quarters of Ex-Im loans benefit ten well-connected corporations. Less than one percent of one percent of US small businesses benefit from Ex-Im.
So why does Hillary Clinton support Ex-Im? Well, as the Washington Examiner’s Tim Carney points out, a more appropriate name for Ex-Im bank may be the International Bank of Clinton. During a 2012 Ex-Im Conference, Bill Clinton said that “this audience is full of people who once worked for me.”
Most notably, Ex-Im President Fred Hochberg was a Clinton appointee and in 2008 he was a “Hillraiser”, meaning he helped raise six figures for Hillary’s failed Presidential campaign. Hochberg also donated a five figure sum to the Clinton Foundation, the non-profit that has come under scrutiny for – among other things — accepting donations from foreign leaders while Clinton was Secretary of State.