23 Feb 2012 7:42 pm
Karl Rove Still Repeating Falsehood About Obama Giving Loan To Brazil, Years After It Was Debunked-VideoRove Feb. 20th Fox News' Hannity Show: "The president gave a loan to Brazil. Brazil which is eating our lunch economically internationally, why do they need our money? They have plenty of their own. [Obama] gave them a loan and told them, as you've just alluded to, went down there and said we want to be your best customer."This lie was debunked in 2009.A Brazilian oil company, PetroBras, received a loan from the independent Export-Import Bank.The loan was approved by appointees of the Bush/Cheney administration.Obama had nothing to do with it.The Export-Import Bank agreed to the loan in large part because PetroBras agreed to use U.S.-made oilfield equipment and services on the project, which made the deal beneficial for both countries.But Karl Rove says Obama is just handing money over to Brazil.Karl Rove is a big fat liar.