Tag Archives: loan

United States loans three satellites, worth $1 billion, to Mexico – MEXSAT

Did you know that America had an Export-Import Bank?

 

The Export-Import Bank of the United States (Ex-Im Bank) approved a $922 million loan guarantee to support the export of three satellites and related equipment to the Mexican government for the MEXSAT regional mobile satellite system. Mexico’s Secretariat of Communications and Transportation will purchase the satellites from Boeing Space and Intelligence Systems in El Segundo, Calif. Boeing will produce two satellites with mobile service satellite (MSS) capacity and will subcontract a third satellite with fixed service satellite (FSS) capacity from Orbital Sciences Corporation in Dulles, Va.

The three satellites will be used to deploy the MEXSAT system, a next-generation, space-based communications platform that will help support social and economic development within Mexico. Various sectors will benefit from MEXSAT, including programs focusing on education, health care, disaster relief and rural telephonic service.

Mexico is one of Ex-Im Bank’s nine key markets and accounted for $8.3 billion of the Bank’s worldwide credit exposure at the end of FY 2011. In FY 2012 to date, the Bank has authorized approximately $1.8 billion in financing for U.S. exports to Mexico.

 

Source: Embassy of the United States in Mexico

 

 

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Occupy Chinese Wall Street

Does anyone ever think about the power that comes with Wall Street?

We are the center of the financial universe and money flows into our country. The dollar is the standard by which everyone else values their currency. Millions upon millions of jobs are created by more than just the big investment banks, but also the small businesses that rarely face a credit crunch.

Nearly every person in this country can get a quick $20k to start a business, whether from a bank or through a credit card.

So, why do the Occupy Wall Street protesters want to put a monkey wrench in the works? Would they rather it be in China?

Perhaps they blame Wall Street for the recession or the bailouts.

Let’s start with the bailouts. There were two of them, one for Detroit and one for Wall Street. The one for the automakers cost us $14 billion on an $80 billion loan bailout, while TARP cost us $20 billion on $432 billion in loans.

That’s a 17.5% default rate for Detroit compared to a 4.6% default rate for Wall Street, and the TARP number is expected to go lower as more money is paid back. That $14 billion automaker loss it’s already on the books.

Further, the Wall Street banks have already paid their loans back, it’s the small community banks across the country who are defaulting.

The main reason they are defaulting: bad home loans.

Which brings up an interesting conundrum. Non-Wall Street banks taking our tax money. People taking on bad mortgages and government regulators performing a classic disappearing act.

Should we think twice about blaming Wall Street?

At the very least take responsibility for our own bad mortgages and elected officials.

You definitely won’t find me out protesting Wall Street — I would feel too guilty as I have an “easy mortgage” that I am underwater on.

I like having my country as the financial power in the world and all the money and jobs that go along with it. Not to mention that it’s better than it being in China or Germany.

Plus, I have work to do. I can’t sit around all day and be angry at other people…

[photo: blaisone-crowds / david shankbone-socialist]