Patrick Toomey actually said...
If you have a loan that is made or guaranteed by the Federal Government through a vehicle like the Ex-Im Bank or more directly, and you have two loans, identical in all terms, but in one case the borrower was a large multinational AAA corporation, and in another case the borrower is a small undercapitalized startup in a politically unstable Third World country, would you use the same discount rate to discount those identical cash flows from those very different borrowers?
Context
Toomey illustrates the need for different discount rates based on borrower risk.
02/02/2016