If, as Mr. Stephens recent letter states (Readers Write, Oct. 7), that "one of the most evident aspects to the Tea Party is the clamor for honesty" then it is unfortunate that he chose, as his example of government dishonesty and wasteful spending, a rehash of Glenn Beck’s June 21st Fox News report proposing Obama, by executive order, forced the government to buy into Petrobas, a Brazilian oil company, for two billion dollars so that George Soros could clean up when the stock rose.
Fortunately, this scenario has been thoroughly debunked by Factcheck.org. The $2 billion was funds approved for a preliminary loan commitment, for Petrobras to finance purchases of U.S. products and services and was offered through the Export/Import Bank of the U.S. The bank directors that approved the loan in April 2009 were three Republicans and two Democrats, all Bush appointees and no executive order needed as the bank is an independent, self-funding federal...
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