Is exim.gov Safe?

Eximbank is a little known "New Deal" federal agency that either loans money directly or "guarantees" loans to American businesses to support those business' overseas ventures. If the company cannot pay back the loans, the taxpayer picks up the tab. Loans made, or guaranteed by, Eximbank are inherently risky and market-distorting, since Eximbank's charter forbids them from "competing with the private sector." Instead, Eximbank uses taxpayer funds to "assume credit and country risks that the private sector is unable or unwilling to accept." You read that right. Eximbank's whole purpose is to use YOUR money to support projects that could not get support from banks and private investors! In 2007, then-Senator Barack Obama called Eximbank "little more than a fund for corporate welfare" that should be shut down. But instead of shutting it down, President Obama has worked to expand Eximbank, using it to reward his corporate cronies and putting taxpayers even more at risk.