Skip to comments.Did Obama bribe Brazil with $2 billion to help put Hondurasís Zelaya back into power?
Posted on 09/30/2009 5:40:02 PM PDT by Corky Boyd
Something smells fishy. First the Obama administration announces $2 billion of financial support for Brazils offshore drilling efforts. And a month later Brazil spirits legally deposed Honduran President Manuel Zelaya back into the country, granting him sanctuary in its embassy. Are these two stories related?
First from the Wall Street Journal, August 18, headlined Obama Underwrites Offshore Drilling:
The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery....
And from Reuters yesterday, headlined Lula faces criticism in Brazil over Honduras role:
BRASILIA, Sept 29 (Reuters) - Brazil's government is facing growing criticism at home over its handling of the Honduran crisis as senior lawmakers accuse it of allowing the ousted president to use its embassy as a political platform.
(Excerpt) Read more at islandturtle.blogspot.com ...
And Rio will back out at the last minute and give Chicago the Olympics!
Is this a trick question?
Obama lending our money for off-shore drilling sounds fishy period.
I think the $2 billion dollar drilling “loan” was to repay Soros. But the use of the Brazilian embassy to give Zelaya an in-country platform to foment revolution might be a way of saying thanks. There is no doubt 0bama supports the wannabe dictator.
I wouldn’t be surprised. We’re all Marxists now.
“I think the $2 billion dollar drilling loan was to repay Soros”
I wish someone would ask where the Kenyan got the two billion?
Who authorized the spending? What executive power allows him to spend two billion?
Maybe... but Obama may have hit a two-bagger since one of the major investors in Petrobras [$800 million worth of stock] is George Soros.
Question - are there now more crooks in Washington DC or does Chicago still hold the title??
Interesting coincidence or legitimate collusion?
sounds very fishy.
I’d like to know that too. The President doesn’t operate the Treasury.
Can we find a 20 year old posing as a hooker and a 20- something videographer to get some Brazilian on tape explaining how Barry bribed authorities to take a fall so Chicago can get the Olympics? 00ou think FOX would play it?
I'm with you. I haven't heard a single word on that.
why should we pay for brazils offshore drilling? needs congressional investigation...we need to make gov justify spending....
that was obama’s bill not ours....we dont owe soros anything
That is a difficult equation worthy of those schooled in higher mathematics.
How many ChiTown crooks have relocated to DC? How many DC crooks now have a place at the ChiTown piggie trough that didn't before? How many now operate out of both centers of corruption? How many have been brought in from outside that now work within one or both circles?
Good question. Where did the $2 B come from and who authorized it??
I swear there are so many “deals” floating around this corrupt administration, it’s hard to keep track.
i was saying that the payback to soros was not our bill ...obama owed it...not us....i am tired of paying obama’s debts
From Fox News:
“In fact, the Export-Import bank receives no appropriations from Congress and thus does not rely on American taxpayer dollars and is also not “sending” $2 billion to the Brazilian company but offering lines of credit to U.S. firms so they can compete to land contracts as part of Petrobras’ drilling operations.”
“The $2 billion “preliminary commitment” by the Export-Import Bank to Petrobras is expected to grow, as the U.S. competes on behalf of American exporters of goods and services against those from China. Beijing has extended a commitment of $10 billion — but the Brazilians are said to prefer U.S. management and technology.”
Obama got the US Export-Import bank to lend $2 billion to Brazil’s Petrobras for oil exploration. It’s not taxpayer money, the bank has its own money and “was established ... for the purposes of financing and insuring foreign purchases of United States goods for customers unable or unwilling to accept credit risk. The mission of the Bank is to create and sustain U.S. jobs by financing sales of U.S. exports to international buyers.”
In short, these are not tax dollars, they are loan guarantees to finance the purchasing of oil drilling equipment & consulting services from American firms.
Now I want you to understand something. These aren’t crook- crooks. This was consensual. People voted for change.
Whether government should be setting up banks like the Export-Import bank is a different question, though I think most Cato-style libertarian types are against government-chartered banks in general. Personally I think it’s a practical reality that if the USA wants to compete in the global marketplace, we need an Ex-Im Bank to compete with China, etc.
Though the Ex-Im Bank’s charter includes “the principle that Ex-Im Bank does not compete with private sector lenders, but rather provides financing for transactions that would otherwise not take place because commercial lenders are either unable or unwilling to accept the political or commercial risks inherent in the deal.” [wikipedia]
Connecting the dots - - excellent.
Congratulations, America, on your "historic" election.
Thanks for the info.
There is still a question of who decides who receives these investments. I understand George Soros directly benefited from this little loan.
thanks for all the info...i did not understand how that worked.
Wanna bet that most of the 2 billion will never see an oil program? Can you say BRIBERY big time?
Yeah, Soros bought a lot of Petrobras before the loan was announced, I forgot to mention that in my post.
As reported at Bloomberg.com, George Soros purchased an $811 million stake in Petroleo Brasileiro SA (PBR), (better known as Petrobras) in Q2. The Brazilian oil company is now the largest holding in his fund, amounting to 22 percent of the total $3.68 billion of stocks and American depositary receipts held by Soros Fund Management LLC.
While the timing for Soros may not be perfect for this trade, a number of other people are also betting on Petrobras. As quoted by Ricardo Kobayashi from UBS Pactual SA: “Petrobras has something that other oil companies don’t have: oil - lots of it and they’re going to find more. If you can buy now and hang on, if you have the staying power, it’s great.’’
That article I quoted is from before the loan announcement (”while the timing for Soros may not be perfect” ...) and of course now the timing looks pretty good. So, yeah, fishy?
Ah, I see. I misunderstood what you meant by ‘bill.’
Thank you. That sounds far less problematic than has been presented to us. Somehow I missed FOX News treatment of it.
This was the deal that Sarah Palin got ridiculed in the Media for exposing.
It is even worse than that.
The new head of the Import/Export Bank is a fellow leftie friend of Obozo. From the New School in NY.
Obama has been proven to have been a member of the New Party in Chicago.
And he recently appointed the Dean of the New School in NY as President of the Export-Import Bank.
Fred Hochberg, who served as Milano (The New School) dean from 2004 2008, has just been sworn in as the 23rd president of the Export-Import Bank of the United States (Ex-Im Bank), the official export credit agency of the United States. In this capacity, Hochberg serves as chairman of the board.
During the Clinton Administration, from 1998 through 2001,Hochberg served as deputy, then acting administrator of the Small Business Administration (SBA), where he helped to lead an enhancement of customer service and substantially increased lending to minority and women small-business owners.
We are excited to have a member of the Milano community in such an important position in the Obama Administration.
This is the bank that made the loan for offshore drilling to Brazil.
The U.S. government is prepared to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazils coast, a Brazilian official said Wednesday.
President Barack Obamas national security adviser, Gen. James Jones, discussed the matter with officials this week during a visit to the South American country, Brazilian Planning Minister Paulo Bernardo da Silva told reporters. He said the U.S. Export-Import Bank already has signed a letter of intent in that regard with Brazilian state oil company Petrobras
Sarah Palin took heat for mentioning this, but I would bet that if honestly examined it was one Marxist aiding another Marxist.
“I think the $2 billion dollar drilling loan was to repay Soros. But the use of the Brazilian embassy to give Zelaya an in-country platform to foment revolution might be a way of saying thanks. There is no doubt 0bama supports the wannabe dictator.”
That’s how I see it as well.
“Something smells fishy. First the Obama administration announces $2 billion of financial support for Brazils offshore drilling efforts. And a month later Brazil spirits legally deposed Honduran President Manuel Zelaya back into the country, granting him sanctuary in its embassy. Are these two stories related?”
Take it to the bank!!
I said this is why it helped the guy because of the US money
“The President doesnt operate the Treasury.”
NO, but he just appointed a Leftie friend as the new President of the Export-Import Bank that financed the project for Brazil.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.