Your Tax Dollars Offshoring Jobs

This is my second story about OPIC – OVERSEAS PRIVATE INVESTMENT CORPORATION – a Department of the United States Treasury. This one is based on the OPIC 2006 Annual Report. It contrasts my earlier report on OPIC 1999. Robert Mosbacher, Jr., CEO of Mosbacher Petroleum, is the new CEO of OPIC. Mosbacher Petroleum was skimming money off ENRON back in the 80’s. OPIC was giving money directly to the oil companies. Now banks are skimming money off the U.S. Treasury and lending it to the oil companies. From the OPIC Handbook 2006, p.8, US Economic Contribution,

“OPIC supports only those projects that are not likely to harm the US economy or have a negative effect on US employment. OPIC will not support “run-away plants” which substitute existing US facilities with foreign plants to serve the same markets.”

Company Amount Location
Emerging Capital Partners, LLC. (that’s a good one) $ 75 million Africa and Middle East
Citigroup Corporate and Investment Bank $ 15 million Bangladesh
GE Energy Rentals $ 2.5 million Philippines
Citigroup Corporate and Investment Bank $ 8 million Sri Lanka
Kimberly-Clark Corp. $ 16.4 million Vietnam
ShoreBank International Ltd. $ 7.5 million Azerbaijan
Wachovia Bank National Assoc. $ 10 million Bulgaria
Firebird Management $ .78 million Georgia (Russia)
Citigroup Corporate and Investment Bank $ 22.5 million Kazakhstan
Wachovia Bank National Assoc. $ 25 million Kazakhstan
Capital International Private Equity Fund IV $ 100 million Russia
Firebird Management LLC. $ 7.3 million Russia
Greenwich Financial Securities, LLC. $ 6 million Russia
National City Bank GFA $ 48 million Russia
Wachovia Bank National Assoc. $ 20 million Russia
Wachovia Bank National Assoc. $ 70 million Turkey
National City Bank GFA $ 20 million Brazil
Roberto Zamora $ 20 million Costa Rica
American Home Assurance Co. $ 15.8 million Ecuador
Citigroup Corporate and Investment Bank $ 1.2 million Haiti
Citigroup Corporate and Investment Bank $ 15 million Honduras
Wachovia Bank National Assoc. $ 35 million Honduras
Roberto J. Zamora $ 10 million Honduras
Citigroup Corporate and Investment Bank $ 20 million Mexico
Roberto Zamora $ 20 million Nicaragua
Wachovia Bank National Assoc. $ 5 million Panama
Citigroup Corporate and Investment Bank $ 7 million Peru
Phelps Dodge Corporation $ 142 million Peru
”14 U.S. Citizens” $ 4 million Latin America
Conduit Capital Partners, LLC $ 60 million Latin America
Darby Overseas Investments, Ltd. $ 45 million Latin America
Conduit Capital Partners, LLC $ 60 million Latin America
Citigroup Corporate and Investment Bank $ 150 million Other OPIC Countries
National City Bank $ 350 million Other OPIC Countries
Wachovia Bank, NA $ 250 million Other OPIC Countries

Does this look like “government for the people”? Why do these banks need capital from the US Treasury?
When one of these countries nationalizes American assets, guess who foots the bill? You do. ENRON took $4 billion of these handouts and squelched. You made several millionaires into billionaires. New Orleans got nothing. When will you people wake up to the crooks who are running our government? Never. You take it hook, line, and sinker every time. Sheeple. Why are we giving all this money to Citigroup? Argentina calls Bush “Satan” and nationalizes our oil assets. Do you believe everything you hear on the news?

 

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