Will the Export-Import Bank Rise Again?

Let’s hope not. But it IS still alive thanks to some very unprincipled “conservatives” in Congress.

Boeing’s bank still exists thanks to some Republicans joining with the likes of Maxine Waters. It should have died a couple of years ago. But it lives.

(From Reason)

High-level lending to large foreign companies at preferential terms will resume and continue to be backed by U.S. taxpayers. It will continue to feed the swamp and the government’s corporate handout system.

This is the deal. In big government programs like the Export Import Bank of the US are instituted. Then these programs work to benefit politically connected large companies. These companies get sweetheart deals financed by the US taxper who could never get similar deals for themselves. The cronies inside and outside of government amass power and wealth. You just get to pay for it.

Expanding government is always about enriching and empowering the crony class FIRST. Not the “people.” Not the “little guy.” The big shots. But many people still think that government is their friend. (They’ve been told this for generations now.)

I mean if you are the CEO of Boeing or GE or Goldman Sachs government IS actually your friend. But for most of us it’s not.

Click here for the article.