Op-Ed
Beyond the Rhetoric: U.S. Export Bank Subsidizes Fortune 100
By Harry C. Alford
NNPA Columnist
This seems like an odd question. Capital access is the lifeblood of business growth and job creation. Thus, all vehicles that provide such should be welcomed. As the President/CEO of the National Black Chamber of Commerce, it is assumed that I would support all avenues of capital access. However, I am starting to have big doubts about one vehicle.
The Export-Import Bank is a government-owned organization that was started by President Franklin D. Roosevelt as an apparatus for American firms to have more opportunity to export business to the Soviet Union. Most modern nations have their own EX-IM bank and even developing nations such as Ghana have just opened their own to help their businesses export to Europe, Asia and the United States.
Unlike most nations our EX-IM Bank has become controversial. It has just lost its charter as of June, and funding is frozen until or unless Congress reauthorizes funding through legislation. By now, you have seen television ads asking for your support in telling Congress to reauthorize the EX-IM Bank. Immediate action is required and if it does not happen within the next six months the doors of the EX-IM Bank will come permanently shut.
Most businesses are not familiar with the EX-IM Bank and that is a flaw in its marketing or outreach. It may also be an indicator that it is not inclusive. I don’t know of one Black owned firm that has received financing from this entity. Many billions of dollars have been provided and not one Black owned firm has received a penny. I am still searching for proof that I may be wrong but no one, including the EX-IM Bank has corrected me.
The bank claims to have a small business program. Supposedly, 20 percent of its financing goes to such firms. However, its definition of a small business is not inconsistent with the Small Business Administration size standards. They accept businesses with more than $21.5 million in sales and up to 1,500 workers as being small. This is hardly small. Still the same, none of them are Black owned.
Three years ago, the bank sent a representative to give a presentation on their services and announce that they were having a new directed outreach initiative to recruit Black owned firms to take part in their services. That person, who was a vice president, was soon gone from the bank and we haven’t heard a sound since. Some of our members voiced discontent at that meeting noting their negative experiences in trying to get financing from the EX-IM bank. Discontent is a conservative description.
The services of the EX-IM Bank are overwhelmingly enjoyed by the Fortune 100 corporations. Giants such as Boeing, Bechtel, General Electric, Caterpillar, etc. The big problem here is that they don’t need government assisted financing. They can do well in the normal financial sectors. In essence, this is a kind of corporate welfare. That is the claim opponents of this entity allege and I can’t argue against that.
Then there is another big issue with this entity. It seems to be filled with mismanagement, fraud and corruption. There is a vast amount of news articles about the history of such activity at the EX-IM Bank.
According to the Daily Signal newspaper: “An examination of EX-IM fraud cases reveals a disturbing pattern of carelessness in doling out taxpayer subsidies. For example, the bank approved 96 loan transactions in a two-year period for Gangland, USA, which purported to export electronics from Miami to South America. According to prosecutors, company owner Jose L. Quijano received more than $3.6 million in fraudulent loans from the bank.”
“Similarly, the bank approved 18 loans involving $13.6 million to Leopoldo Parra, who pleaded guilty in 2012 to wire fraud and conspiracy to commit money laundering. According to prosecutors, Parra and his co-conspirators fraudulently obtained the loan proceeds and used them for personal gain. These and dozens of other cases reflect the hazards inherent in government subsidies.
That is, agencies such as EX-IM do not engage in meaningful due diligence when taxpayers are on the hook for any or all losses. The Inspector General noted in a 2012 report to Congress that the bank failed to collect adequate credit information and history from borrowers and lacked sufficient compliance personnel relative to the increasing size of the bank’s finance portfolio, which is expected to exceed $140 billion by September 30, 2014. It also concluded that EX-IM risk management framework and governance structure are not commensurate with the size, scope and strategic ambitions of the institution.”
Yes, it never fails. Discrimination and corruption are “first cousins.” Where there is one you will most certainly find the other. It appears that the EX-IM Bank is no exception. The NBCC position is this: We will not fight to keep or kill the EX-IM Bank. This entity has no impact on our membership. Maybe it would change its ways if it survives. This is quite doubtful.
Harry C. Alford is the Co-founder, President/CEO of the National Black Chamber of Commerce. Website:www.nationalbcc.org Email: halford@nationalbcc.org.
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Advice
COMMENTARY: If You Don’t Want Your ‘Black Card’ Revoked, Watch What You Bring to Holiday Dinners
From Thanksgiving to Christmas to New Year’s Day, whether it’s the dining room table or the bid whist (Spades? Uno, anyone?) table, your card may be in danger.
By Wanda Ravernell
Post Staff
From the fourth week of November to the first week in January, if you are of African descent, but particularly African American, certain violations of cultural etiquette will get your ‘Black card’ revoked.
From Thanksgiving to Christmas to New Year’s Day, whether it’s the dining room table or the bid whist (Spades? Uno, anyone?) table, your card may be in danger.
It could take until Super Bowl Sunday for reinstatement.
I don’t know much about the card table, but for years I was on probation by the ‘Aunties,’ the givers and takers of Black cards.
How I Got into Trouble
It was 1970-something and I was influenced by the health food movement that emerged from the hippie era. A vegetarian (which was then considered sacrilegious by most Black people I knew) prepared me a simple meal: grated cheese over steamed broccoli, lentils, and brown rice.
I introduced the broccoli dish at the Friday night supper with my aunt and grandfather. She pronounced the bright green broccoli undone, but she ate it. (I did not, of course, try brown rice on them.)
I knew that I would be allowed back in the kitchen when she attempted the dish, but the broccoli had been cooked to death. (Y’all remember when ALL vegetables, not just greens, were cooked to mush?)
My Black card, which had been revoked was then reattained because they ate what I prepared and imitated it.
Over the decades, various transgressions have become normalized. I remember when having a smoked turkey neck instead of a ham hock in collard greens was greeted with mumblings and murmurings at both the dining room and card tables. Then came vegan versions with just olive oil (What? No Crisco? No bacon, at least?) and garlic. And now my husband stir fries his collards in a wok.
But No Matter How Things Have Changed…
At holiday meals, there are assigned tasks. Uncle Jack chopped raw onions when needed. Uncle Buddy made the fruit salad for Easter. My mother brought the greens in winter, macaroni salad in summer. Aunt Deanie did the macaroni and cheese, and the great aunts, my deceased grandmother’s sisters, oversaw the preparation of the roast beef, turkey, and ham. My father, if he were present, did the carving.
These designations/assignments were binding agreements that could stand up in a court of law. Do not violate the law of assignments by bringing some other version of a tried-and-true dish, even if you call it a new ‘cheese and noodle item’ to ‘try out.’ The auntie lawgivers know what you are trying to do. It’s called a menu coup d’état, and they are not having it.
The time for experiments is in your own home: your spouse and kids are the Guinea pigs.
My mother’s variation of a classic that I detested from that Sunday to the present was adding crushed pineapple to mashed sweet potatoes. A relative stops by, tries it, and then it can be introduced as an add-on to the standard holiday menu.
My Aunt Vivian’s concoctions from Good Housekeeping or Ladies’ Home Journal magazine also made it to the Black people’s tables all over the country in the form of a green bean casserole.
What Not to Do and How Did It Cross Your Mind?
People are, of all things holy, preparing mac ‘n’ cheese with so much sugar it tastes like custard with noodles in it.
Also showing up in the wrong places: raisins. Raisins have been reported in the stuffing (makes no sense unless it’s in a ‘sweet meats’ dish), in a pan of corn bread, and – heresy in the Black kitchen – the MAC ‘n’ CHEESE.
These are not mere allegations: There is photographic evidence of these Black card violations, but I don’t want to defame witnesses who remained present at the scene of the crimes.
The cook – bless his/her heart – was probably well-meaning, if ignorant. Maybe they got the idea from a social media influencer, much like Aunt Viv got recipes from magazines.
Thankfully, a long-winded blessing of the food at the table can give the wary attendee time to locate the oddity’s place on the table and plan accordingly.
But who knows? Innovation always prevails, for, as the old folks say, ‘waste makes want.’ What if the leftovers were cut up, dipped in breadcrumbs and deep fried? The next day, that dish might make it to the TV tray by the card table.
An older cousin – on her way to being an Auntie – in her bonnet, leggings, T-shirt, and bunny slippers and too tired to object, might try it and like it….
And if she ‘rubs your head’ after eating it, the new dish might be a winner and (Whew!) everybody, thanks God, keeps their Black cards.
Until the next time.
Alameda County
Seth Curry Makes Impressive Debut with the Golden State Warriors
Seth looked comfortable in his new uniform, seamlessly fitting into the Warriors’ offensive and defensive system. He finished the night with an impressive 14 points, becoming one of the team’s top scorers for the game. Seth’s points came in a variety of ways – floaters, spot-up three-pointers, mid-range jumpers, and a handful of aggressive drives that kept the Oklahoma City Thunder defense on its heels.
By Y’Anad Burrell
Tuesday night was anything but ordinary for fans in San Francisco as Seth Curry made his highly anticipated debut as a new member of the Golden State Warriors. Seth didn’t disappoint, delivering a performance that not only showcased his scoring ability but also demonstrated his added value to the team.
At 35, the 12-year NBA veteran on Monday signed a contract to play with the Warriors for the rest of the season.
Seth looked comfortable in his new uniform, seamlessly fitting into the Warriors’ offensive and defensive system. He finished the night with an impressive 14 points, becoming one of the team’s top scorers for the game. Seth’s points came in a variety of ways – floaters, spot-up three-pointers, mid-range jumpers, and a handful of aggressive drives that kept the Oklahoma City Thunder defense on its heels.
One of the most memorable moments of the evening came before Seth even scored his first points. As he checked into the game, the Chase Center erupted into applause, with fans rising to their feet to give the newest Warrior a standing ovation.
The crowd’s reaction was a testament not only to Seth’s reputation as a sharpshooter but also to the excitement he brings to the Warriors. It was clear that fans quickly embraced Seth as one of their own, eager to see what he could bring to the team’s championship aspirations.
Warriors’ superstar Steph Curry – Seth’s brother – did not play due to an injury. One could only imagine what it would be like if the Curry brothers were on the court together. Magic in the making.
Seth’s debut proved to be a turning point for the Warriors. Not only did he contribute on the scoreboard, but he also brought a sense of confidence and composure to the floor.
While their loss last night, OKC 124 – GSW 112, Seth’s impact was a game-changer and there’s more yet to come. Beyond statistics, it was clear that Seth’s presence elevated the team’s performance, giving the Warriors a new force as they look to make a deep playoff run.
Activism
Essay: Intentional Self Care and Community Connections Can Improve Our Wellbeing
At the deepest and also most expansive level of reality, we are all part of the same being, our bodies made from the minerals of the earth, our spirits infused by the spiritual breath that animates the universe. Willingness to move more deeply into fear and pain is the first step toward moving into a larger consciousness. Willingness to move beyond the delusion of our separateness can show us new ways of working and living together.
By Dr. Lorraine Bonner, Special to California Black Media Partners
I went to a medical school that was steeped in the principles of classical Western medicine. However, I also learned mindfulness meditation during that time, which opened me to the multifaceted relationship between illnesses and the interconnecting environmental, mental and emotional realities that can impact an individual’s health.
Therefore, when I began to practice medicine, I also pursued training in hypnosis, relaxation techniques, meditation, and guided imagery, to bring a mind-body focus to my work in medical care and prevention.
The people I saw in my practice had a mix of problems, including high blood pressure, diabetes, and a variety of pain issues. I taught almost everyone relaxation breathing and made some general relaxation tapes. To anyone willing, I offered guided imagery.
“My work embraced an approach to wellness I call “Liberatory Health” — one that not only addresses the treatment and management of disease symptoms but also seeks to dismantle the conditions that make people sick in the first place.”
From my perspective, illness is only the outermost manifestation of our efforts to cope, often fueled by addictions such as sugar, tobacco, or alcohol, shackled by an individualistic cult belief that we have only ourselves to blame for our suffering.
At the deepest and also most expansive level of reality, we are all part of the same being, our bodies made from the minerals of the earth, our spirits infused by the spiritual breath that animates the universe. Willingness to move more deeply into fear and pain is the first step toward moving into a larger consciousness. Willingness to move beyond the delusion of our separateness can show us new ways of working and living together.
To put these ideas into practical form, I would quote the immortal Mr. Rogers: “Find the helpers.” There are already people in every community working for liberation. Some of them are running for office, others are giving food to those who need it. Some are volunteering in schools, libraries or hospitals. Some are studying liberation movements, or are working in urban or community gardens, or learning to practice restorative and transformative justice, or creating liberation art, music, dance, theater or writing. Some are mentoring high schoolers or apprenticing young people in a trade. There are many places where compassionate humans are finding other humans and working together for a better world.
A more compassionate world is possible, one in which we will all enjoy better health. Creating it will make us healthier, too.
In community, we are strong. Recognizing denial and overcoming the fragmenting effects of spiritual disorder offer us a path to liberation and true health.
Good health and well-being are the collective rights of all people!
About the Author
Dr. Lorraine Bonner is a retired physician. She is also a sculptor who works in clay, exploring issues of trust, trustworthiness and exploitation, as well as visions of a better world.
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