Isn’t this just cozy? Former New Mexico Governor Bill Richardson (D) is working both sides of the Export-Import Bank. Not only does Richardson sit on the bank’s advisory committee, he’s also a board member of one of its loan recipients.
The U.S. Export-Import Bank recently steered hundreds of millions of dollars in federal loans to Spanish green energy conglomerate Abengoa, which happens to share an advisory board member with the bank.
The Ex-Im Bank approved a $78.6 million direct loan to Spain-based Abengoa in December. It also approved a $73.6 million direct loan to a wind farm in Uruguay, which is owned by Abengoa.
Former Democratic New Mexico Gov. Bill Richardson sits on both the Abengoa International Advisory Board and is currently listed on the Ex-Im bank’s website as a member of the advisory committee that helps guide bank policy. (Read More)
The bank denies that Richardson had anything to do with the loan, but since we don’t know exactly when he started with the bank we’ll never know for sure.
Oh, and of course, the New York Times has ignored this story.
The idea of insiders getting insider making insider deals with taxpayer money, that’s not odd, that’s business as usual.
What is odd is that a former Presidential candidate and prominent governor being on both sides of taxpayer backed loans to foreign governments is a story that is newsworthy to the Washington Free Beacon and the Washington Examiner but produces no results when you do a search of the New York Times for “Bill Richardson”.
The media ignoring stories like this is also business as usual these days.