Export-Import Bank’s Secret Dealings Demonstrate the Problem With Crony Capitalism

You know, we almost killed it. But the establishment GOP saved Ex-Im at the last minute. (Joining with Dems.) We bet Trump will let it live and perhaps give the agency new life.

That would be a shame. But you know – jobs. That’s how this corporate welfare will be sold.

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Great, so now Trump supports taxpayer backed “Boeing’s Bank” after talking with Boeing’s CEO?

Trump had said that the Export-Import Bank of the United States was a bad idea. An example of classic crony capitalism. But that position may have just changed. If so that would be disappointing, bad for taxpayers, and would further our system of crony capitalism.

The Export-Import Bank should die. If it doesn’t with a GOP president, Senate, and House then that tells taxpayers all they need to know.

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Ex-Im Is Back In Business, Boeing Cuts 4,000 Jobs Anyway (Company threatened job cuts last year if it lost its Export-Import Bank subsidy)

Flying high in the crony skies.

So nice that Boeing, now with its huge taxpayer underwritten subsidy in hand thanks to many Republicans who abandoned the free market to support crony capitalism, slashes a bunch of jobs. The company had threatened to slash jobs if it didn’t get an Ex-Im renewal, but in the end it got rid of thousands of jobs anyway.

Crony capitalists do not operate on good faith or anything close to it. Remember this for the future.

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Contractors That Defraud the Government the Most Also Spend the Most on Lobbying

It should be noted that when a contractor defrauds “the government” that company is really defrauding the taxpayers. And despite what some may believe, it’s not like the government is wholly unaware when big time sketchiness is going on. It’s understood to a large degree. It’s part of doing business for both regulators and the “regulated.” The numbers are so big. Sure, someone is going to scrape some of the cream. (This is the assumption.) It’s government contracting after all.

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Cronies pulling out the stops on renewal of New Deal Era Ex-Im Bank, “Boeing’s Bank,” The cronies fear real change, life after Boehner

Now, who’s Boeing and who is Congress in this picture?

On October 9 members of the House, pretty much every Democrat (Which is just a crying shame but speaks to conformist nature of the party under Ms. Pelosi, Dems used to hate Ex-Im.) and a smattering of Republicans (but just enough) signed a “discharge petition” to bring a vote on the Export-Import Bank to the floor of the House through extraordinary means. The giant corporations, specifically Boeing, GE, Caterpillar and a few others have deployed their lobbyists in an all out assault on the anti-crony insurgents in Congress.

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