WASHINGTON, June 24 The White House said on
Tuesday the U.S. Export-Import Bank is working with its internal
inspector general on an investigation into improper gifts and
kickbacks and said President Barack Obama has "zero tolerance"
for waste, fraud and abuse.
But Obama supports reauthorizing the bank because it makes
"a tangible and important contribution to the U.S. economy" and
helps businesses expand trade and jobs, White House spokesman
Josh Earnest told reporters.
"He does not think that it would be a smart policy decision
to start withdrawing support from those institutions that play
such an important role in supporting our economy," he said.
(Reporting by Roberta Rampton and Jeff Mason; Editing by Bill