Word: exportimport
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...budget would also dissolve the Export-Import Bank, which helps finance foreign trade by U.S. corporations. The Administration wants the private financial community, not the taxpayer, to help companies like General Electric, Bechtel Group and Westinghouse finance their sales abroad. The ^ financial community contends that the end of ExportImport would hamper international traders who are struggling against a strong dollar, subsidized foreign competition, and a growing U.S. trade deficit...
...switched to exportimport, made his first big deal with an Argentinian who wanted half a million yards of a certain type of cloth. Richmond found the cloth at the War Assets Administration, bought it with credit from a Boston bank for which his father did legal work. On the resale, he cleared $40,000. He soon expanded into steel and chemicals. By 1948, when he was 24, he had an expanse of plush offices in Manhattan and his business was grossing $11 million a year. Then in the recession of 1949 he was hard hit. His business dropped off sharply...
Next day it was indicated that the ExportImport Bank, created in a day of hope, would be disbanded, with nothing done. Hamstrung since its formation by the Johnson resolution passed last year by Congress prohibiting the extension of credits to defaulting nations, the Bank has never lent...
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