Rep. Jim Hansen, R-Utah, says it is absurd for the United States to allow its banks to give loans to Soviet bloc nations at rates lower than what American farmers and businesses can often obtain.
So he signed on as a co-sponsor of HR1475, sponsored by Rep. Stan Parris, R-Va., which would allow the president to regulate export of certain financial assets and credit."I think it is absurd that our current policy is to offer the Soviet Union and Warsaw Pact nations capital and credit loans at a rate lower than what we currently offer to our farmers and our businessmen."
"And if that's not bad enough, there are no strings attached to the money we lend . . . There is no stopping a terrorist nation from turning right around and using that assistance against the United States."