On the recordOctober 6, 1997
the Eximbank, to my dear colleague from the State of California, does not build factories overseas. That is not what the Eximbank does. What the Eximbank does is make loans to foreign companies so that they can buy goods that are manufactured by American companies. That is what this is about. I met with two gentlemen from the Republic of Georgia; perhaps the George Masons and James Madisons who are in the process of writing the Constitution to set up an independent judiciary. They do not have one yet, they are working on it. The gentleman from California would draw this arbitrary line and say, well, if their government does not meet our standards of running a government, they cannot be involved in buying American goods. Eximbank is about allowing people in foreign countries to buy goods manufactured in the United States, because Eximbank has a rule that most of the content of that which is financed has to be American products. That is what Eximbank is all about. It is very, very simple. The gentleman from California would cut off sales to China, cut off sales to Saudi Arabia, even cut off sales to Peru, where ultimately the independent judiciary there is the military triumvirate.
Source
govinfo.gov




