Might this year be the beginning of the end of crony capitalism, or as I call it: crapitalism? That's the cozy alliance between big-government spenders and politically-connected businesses.
THE EXPORT-IMPORT BANK: The U.S. Ex-Im Bank's charter expires in September. House Finance Committee Chairman Jeb Hensarling says Congress should not reauthorize the bank. But Rep. Brad Sherman says America needs an export promotion program.
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CRONY CAPITALISTS: George Mason Economist Don Boudreaux says the Ex-Im Bank is just a taxpayer subsidy for crony capitalists.
SCANDAL: WSJ reports that crooks at the bank took bribes and kickbacks. Tim Carney of the Washington Examiner says kickbacks are not unique to the Ex-Im Bank. Corruption always happens when government agencies hand out big money.
LOBBYISTS: John Hardy of the Coalition for Employment through Exports lobbies for the Ex-Im Bank. He says the agency helps level the playing field. We will fight.
CLUB FOR GROWTH: Barney Keller of Club for Growth explains how his organization defends economic freedom and fights against the Ex-Im Bank.
MY TAKE: Politicians-even Barack Obama- promise to put an end to wasteful bureaucracies like the Ex-Im Bank, but once they get to Washington and breathe in all that money and power, they change. Has the Tea Party changed the balance of power? If Congress kills the bank in September, it's a first step toward saving America.
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