Surprise: Ex-Im Bank Promotes Crony Capitalism

 

Last week, the Washington Free Beacon broke the story about former Democratic governor of New Mexico Bill Richardson and his role in an arrangement that transferred tens of millions of dollars in federal loans to Spanish conglomerate Abengoa. It seems the former governor, who sits on the International Advisory Board for Abengoa, is also a member of the U.S. Export-Import Bank’s Advisory Committee. And wouldn’t you know it: the federal loan given to Abengoa came directly from, you guessed it, the U.S. Export-Import Bank.

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