New York to form first U.S. state Ex-Im bank: Cuomo

Andrew Cuomo

Great. Just another reason for people leave the taxpayer (and worker’s) paradise which is New York State. I wonder which company freaked out about Ex-Im potentially being killed in DC and called up the Governor?

(From Reuters)

New York plans to form the first U.S. state version of the federal Export-Import Bank to help businesses expand overseas, Governor Andrew Cuomo said on Tuesday, in a vote of confidence in a credit agency that critics have decried as corporate welfare.

“We’re going to capitalize it with $35 million to start,” Cuomo said at a trade summit in New York, according to a recorded version of his speech. “We will have a real vehicle that can facilitate companies that want to make exactly this transaction.”

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