U.S. Backs $1B Loan to Mexico for Oil Drilling Despite Obama Moratorium

[Rim05]

the U.S. Export-Import Bank intends to guarantee $1 billion in loans to PEMEX, the Mexican state oil company, to bolster the company's oil drilling in the region.

[B]I read the article and some of the comments. Maybe someone can tell me where the Obama administration is the one backing this loan. Most of the comments are blaming the Obama admin. for this.
I would ask, who has control/any control over the US Export-Import Bank. By the article it seems they can do what ever they wish to do.


WE HAVE FUNDED MUCH TOO MUCH FOR MEXICO. WE SHOULD OWN THE DAMN PLACE BY NOW.

[Don]

In the mid-90's we had to fund the "Mexican bail out." Twenty billion dollars, I think. The line was that if we didn't bail out Mexico and pay their debts to Wall Street bankers, the whole world economy would come to an end and civilization would collapse, blah, blah, blah. Newt Gingrich helped push it through the House, Trent Lott helped in the Senate, and Bill Clinton signed the bill.

Rank and file Americans are hanging on by their fingernails, but our rulers always seem to find billions of dollars to bail out Wall Street bankers and third world tycoons. And don't forget earthquake victims in Haiti.

[ilbegone]

Originally Posted by Don

In the mid-90's we had to fund the "Mexican bail out." Twenty billion dollars, I think. The line was that if we didn't bail out Mexico and pay their debts to Wall Street bankers, the whole world economy would come to an end and civilization would collapse, blah, blah, blah. Newt Gingrich helped push it through the House, Trent Lott helped in the Senate, and Bill Clinton signed the bill.

Rank and file Americans are hanging on by their fingernails, but our rulers always seem to find billions of dollars to bail out Wall Street bankers and third world tycoons. And don't forget earthquake victims in Haiti.

I'd have to look it up for the particulars, but that was Zedillo and yet another Peso crisis replay somewhat like the one which sent millions of Mexicans illegally into America when Lopez Portillo had to devalue the Peso in the early 80's.

Pemex is mostly scrap iron by now, and my guess is that most of the money will be embezzled or otherwise looted.

I believe it was Zedillo who boasted that Mexico was "reclaiming" the territorial claim forfeited to America in 1848 with every Mexican who comes here now.