Boeing Cashes in on Obama Administration Loan Guarantees

Export-Important Bank funneled more than $12 billion in 2012 to back company's sales

The Export-Import Bank is a taxpayer-backed agency that finances U.S. exports, primarily though loan guarantees.

You'd think the bank would spread the money around to nurture up-and-coming businesses. You'd be wrong, very wrong.

In fact, President Obama's export subsidy agency funneled 82.7 percent of its taxpayer-backed loan guarantees to just one exporter: Boeing. Out of $14.7 billion in long-term loan guarantees in fiscal year 2012, $12.2 billion subsidized Boeing sales, according to Ex-Im's annual report issued last week.