US Congress moves to force "Bank of Boeing" to support small exporters

(AP, Washington, 7 January 2007) Since its creation in 1934, the Export-Import Bank has used public money as credit to help American companies compete for sales overseas against likewise subsidized foreign exporters. The agency has come under fire for failing to award at least 20% of its financing to small businesses and has been derided as the "Bank of Boeing." In 2005, about 30% of its $14 billion in total financing backed Boeing Co., while 19.1% went to small business deals.