An Infrastructure Bank? We Already Have One
A handful of Washington insiders argue that while Obama is calling for the creation of a national infrastructure bank, there is already such an entity in existence and ready to assume the role.
The bank in question is the Export-Import Bank of the United States, which is "...a self-funded government corporation that carries the full faith and credit of the United States, has been financing multibillion-dollar infrastructure projects and creating American jobs for more than 75 years. Why haven't you heard of the bank? Because it finances these projects in Jakarta, Santo Domingo and Sofia, instead of in Chicago, Dallas and Boston."
The group (including former senator Evan Bayh) say the Ex-Im Bank (as its known) is highly reliable and could easily shift to funding programs here at home instead of only abroad.
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Published on Friday, September 30, 2011 in
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