Boeing's Government Bank

November 9, 2009

The Pew Charity Trust’s Subsidyscope website just released a report on the Export-Import Bank, which is a government agency that helps finance U.S. exports through loans and loan guarantees. As it turns out, Boeing is hands down Ex-Im’s biggest beneficiary. 

From the report: 

However, Ex-Im’s largest financial commitments are in long-term loan guarantees, the category in which Boeing benefits most. In fiscal years 2007 and 2008 combined, Ex-Im issued $15.3 billion in long-term loan guarantees. Of that total, almost $10 billion, or 65 percent, went toward the purchase of commercial aircraft made by Boeing. In fiscal year 2008 alone, Ex-Im issued long-term guarantees on $8.1 billion in loans made by banks in 23 countries. Nearly $5.5 billion—67 percent—of that total supported the sale of Boeing airplanes in nations such as Brazil, Canada, Ireland and the United Arab Emirates. 
See this essay for more on the problems with special-interest spending.


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