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Table of contents

Creations, Circulations, Tensions, Transitions (19th–21st C.)

President Roosevelt created the Export-Import Bank of Washington by executive order on February 2, , and named Peek president of the bank. He clashed repeatedly with United States Secretary of State Cordell Hull over a series of reciprocal trade agreements in , [17] and resigned from the bank on December 2, In , he published a book on economic matters entitled, Why Quit Our Own , which he co-authored with Samuel Crowther. Peek died at his home in Rancho Santa Fe on December 17, From Wikipedia, the free encyclopedia.

Not to be confused with George Peak or George Peake.

Polo , Illinois , U. Rancho Santa Fe , California , U. Wallace, , p.

The American Farmer and the New Deal. Ames, Ia. Texas, Cotton, and the New Deal. College Station, Tex. Santa Barbara, Calif. Peek, 70, Farm Expert, Dies. December 18, As noted, while the best reform option for the Export-Import Bank is to close it, the Bank is likely to be reauthorized via the Cramer-Sinema bill. While just six pages long, the bill has four main provisions, all of which need improvement. The first problem is the year length of the reauthorization.

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Ex-Im reauthorizations typically last for four or five years—and should be even shorter. Ex-Im-related legislation would likely almost never appear on the congressional calendar if occasional reauthorization did not require it to. At five years, two entire Congresses can come and go without having any say in Ex-Im policy. At 10 years, as many as five Congresses would have no say.

This gives too long a leash to an agency with an unusually long list of corruption-related allegations and convictions. The second problem is a year extension of a pilot program for reinsurance that began in This program should be ended. As noted, U. Ex-Im currently has a five-member board of directors, who are nominated by the president and confirmed by the Senate. The temporary members would include the remaining board members plus the Treasury Secretary, the Commerce Secretary, and the United States Trade Representative.

If all of the temporary board members are of the same party, the President is to nominate a member of a different political party, subject to Senate confirmation. This temporary board proposal would reduce an important measure of democratic accountability at Ex-Im, and would further move the separation of powers away from the legislature and towards the President. This section, Section 4, should be struck entirely from the bill. First, Ex-Im should be required to use the same accounting standards as other agencies.

Second, Ex-Im should have a 10 percent cap on what percentage of its business can benefit a single firm. Third, Ex-Im should remove its quota for green projects, which are especially prone to rent-seeking and corruption. Ex-Im was involved in the Solyndra debacle, and the green quota makes a repeat more likely.

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Description: The market, the state, and the Export-Import Bank of the United States, /

Most major oil and gas companies have renewable subsidiaries, which are magnets for subsidies, quotas, and other special treatment. The fact that such favorable financing frees up funds for more oil and gas exploration mostly flies under the radar.

It needs to be made much narrower and stricter. A good start would be to lower the threshold to employees. Lessons from the Ex-Im Fight. If this much in savings can come from temporary activity reductions in one agency, savings from successful permanent reforms of larger agencies could be substantial.

How the Ex-Im Bank Enables Cronyism and Wastes Taxpayer Money

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The Export‐Import Bank and U.S. Foreign Economic Relations

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