The Government Giveth, and the Government Taketh Away
The Overseas Private Investment Corporation, a government agency that subsidizes U.S. firms doing business in foreign counties, has awarded a $25 million insurance policy to a propane gas terminal in Guatemala that is part of a Mexican energy conglomerate that has been ordered by the Internal Revenue Service to pay more than $70 million in back taxes. OPIC has also made millions of dollars in loans to companies with ties to organized crime, according to an Associated Press investigation.