NICE: Shelby bucks Senate leadership, refuses to budge on Ex-Im Bank’s ‘corporate welfare’

Richard_Shelby,_official_portrait,_112th_Congress cc

This is very good to hear. Ex-Im, often called “Boeing’s Bank” is such a crony vehicle. It has no place in a modern economy. Enemies of cronyism on both the Right and Left sought to kill the program last year but were abandoned by just enough members of the House who were under heavy corporate pressure who resurrected the bank. Good to see Shelby doing his thing (that is the right thing) here.

(From Yellow Hammer News)

In spite of growing pressure from Senate Majority Leader Mitch McConnell, Senate Banking Committee Chairman Richard Shelby (R-Ala.) says he is “in no hurry” to confirm President Obama’s nominees to fill vacancies on the Export-Import Bank’s board of directors. Shelby’s refusal to back down — which has drawn cheers from conservative groups and criticism from a bipartisan coalition of big business interests — has dealt a crippling blow to the Ex-Im Bank because its board does not currently have enough directors to reach a quorum for any meeting.

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