India is among the world's most corrupt countries. Therefore Obama is transferring $500 million US tax dollars to them. Then he or an associate will call middle class Americans who still have jobs and pay taxes "terrorists" or the like for not wishing to bind more of our finite time and effort to him so he can throw them out the window.
8/17/11, "U.S. Government Loaning $500M for Solar Power Projects—In India," CNS News, Terence P. Jeffrey
"The U.S. Export-Import Bank, an independent agency of the federal government, says that it has $500 million in loans in the “pipeline” to fund new solar energy projects—in India.
The $500 million in new loans will come on top of $75 million in financing that the Export-Import Bank
- has already provided this year for solar power projects in India.
“In fiscal year 2011 to date, the Bank has approved financing totaling approximately $75 million for four solar projects in India,” the bank said in a July 18 press release. “The Bank also has about $500 million of India solar projects in the pipeline that will generate an estimated 315 MW of solar power.”
While in India last month, Export-Import Bank Chairman Fred Hochberg, an Obama appointee, announced two of the new solar projects the U.S.-government bank will be financing.
“In New Delhi, Hochberg announced authorizations totaling more than $25 million for two separate solar transactions,” the Export-Import Bank said in a July 19 statement. ”Ex-Im Bank is providing a $16 million, 16.5-year loan to Azure Power Rajasthan Pvt. Ltd. to purchase thin-film solar modules from First Solar Inc. in Tempe, Ariz, for the construction of a five-MW solar photovoltaic plant in the state of Rajasthan.
“Additionally,” the statement said, “Ex-Im Bank authorized a $9.2 million, 18-year loan for thin-film solar modules from Abound Solar Inc. in Loveland, Colo., to Punj Lloyd Solar Power Ltd. for the construction of a five- MW photovoltaic solar power plant in Rajasthan.”
On May 24, Hochberg told the House Subcommittee on International Monetary Policy and Trade that the Export-Import Bank is a lender of “last resort” that loans money for projects in other parts of the world that private-sector banks will not finance.
“I think that … much of global trade has moved to emerging markets, be that Turkey, be that India, South Africa. And, candidly, after the financial crisis in particular, banks are more reluctant to lend to those parts of the world …,” Hochberg told the committee.
“So we really act as a lender of last resort,” Hochberg testified. “We act when--If other banks are unwilling or unable to provide financial support, we will look at it and make sure there is a reasonable assurance of repayment, and in that case, we've been able to step in, with the private sector not able to do that on its own.”...
“Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers,” the bank said in its statement about the solar power investments in India."...
- (At no cost to American taxpayers? How about $500 million? India is one of the most corrupt countries on earth. Who is going to see that we get paid back? ed)
(continuing, CNS News): "The bank says that in the first half of this year alone it approved 173 transactions involving India that had a total value of $1.4 billion. This U.S.-government financing, the banks said, was responsible for “supporting over 10,000 U.S. jobs.” (italics added, ed.)
That works out to $140,000 in U.S. government loans to borrowers in India for
- each U.S. job “supported” by the bank."
12/9/10, "World is getting more corrupt says transparency poll," BBC
"The world is considered a more corrupt place now than it was three years ago, a poll suggests.
- Some 56% of people interviewed by Transparency International said their country had become more corrupt.
The organisation put Afghanistan, Nigeria, Iraq and India in the most corrupt category, followed by China, Russia and much of the Middle East....
In the Transparency International survey, political parties were regarded as the most corrupt institutions,
- and 50% of people believed their government was ineffective at tackling the problem.
- the police being the most common recipient.
Some 29% of bribes went to the police, 20% to registry and permit officials, and
- 14% to members of the judiciary.
Political parties have long been regarded as the most corrupt institutions - they topped the list in Transparency's 2004 barometer with 71%. In this year's report, 80% regarded them as corrupt.
- Religious bodies experienced a sharp rise in people regarding them as corrupt - 28% in 2004
- increased to 53% by 2010.
People from Afghanistan, Nigeria, Iraq and India were among those who perceived the highest levels of corruption in their daily lives.
- At least half of the people surveyed in those countries reported paying a bribe in the past year.
While people from Cambodia (84%) and Liberia (89%) were the most likely to have to pay a bribe, the Danish reported 0% bribery.
- Robin Hodess, Transparency's policy and research director, expressed particular concern at the figures on bribery.
"Unfortunately people's experience with bribery most often involves the police, and this is really worrying," he said. "It's a figure that's grown in the past few years. It's nearly doubled, in fact, since 2006.
Nearly one in three people who had contact with the police around the world had to pay a bribe."
- By region, people in sub-Saharan Africa were the most likely to have paid a bribe (56%).
Bribe taking was least common in EU countries and North America (both 5%) - although these were
- the two regions seeing the biggest increase in concern about corruption.
Analysts blame this rising concern on the global financial crisis for undermining people's faith in government, banks and economic institutions.
The lobby group interviewed 90,000 people in 86 countries to compile its corruption barometer....
- In sub-Saharan Africa, 67%of bribes were to avoid trouble with the authorities
- In the Arab world and Latin America most bribes were paid to speed things up
- In Asia-Pacific, 35% of people bribed to get a service they were entitled to
- In North America and the EU, most bribe payers say they could not remember why they had paid
Source: Global Corruption Barometer 2010"