[Congressional Record Volume 148, Number 54 (Friday, May 3, 2002)]
[Extensions of Remarks]
[Page E711]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             EXPORT-IMPORT BANK REAUTHORIZATION ACT OF 2001

                                 ______
                                 

                               speech of

                         HON. MICHAEL G. OXLEY

                                of ohio

                    in the house of representatives

                         Wednesday, May 1, 2002

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 2871) to 
     reauthorize the Export-Import Bank of the United States, and 
     for other purposes:

  Mr. OXLEY. Mr. Chairman, I appreciate Chairman Ney's concerns 
regarding the operation of the Export-Import Bank and I share many of 
them. Ex-Im plays an important role in fostering trade and leveling the 
playing field for U.S. exports. However, it is absolutely unacceptable 
for Ex-Im to support transactions that compromise our national 
security. I have closely monitored the transaction that Mr. Ney has 
highlighted and while I did not find any wrongdoing by Ex-Im, I am 
troubled by the approach Ex-Im took while reviewing this deal.
  I am confident that the State Department does a good job in 
monitoring violations of the Arms Export Control Act, and if there was 
a serious problem they would be able to successfully stop a 
transaction. The problem is that bad transactions should not have to 
reach that level, they should not be approved by the Ex-Im Board in the 
first place. I do hope that in the future, Ex-Im takes very seriously 
these issues and works to limit transactions with entities that have 
violated U.S. national security laws.
  As far as legislative remedies are concerned, I appreciate all the 
efforts by my good friend from Ohio. I am committed to work closely 
with him as we consider changes to Ex-Im's Charter in order to ensure 
that our national security is not compromised.

                          ____________________