Jeb Hensarling Tackles the Export-Import Bank and Crony Capitalism

    Jeb Hensarling Tackles the Export-Import Bank and Crony Capitalism

      The Export-Import Bank, the darling of K Street lobbyists, is up for reauthorization and there are encouraging signs that House Financial Services Committee Chairman Jeb Hensarling just might have his way and let it die. The Ex-Im Bank is a chartered government corporation established by President Franklin Roosevelt that is responsible for providing  “financing for transactions that would otherwise not take place because commercial | Read More »

    Congress should rein in the Export-Import Bank

    Another sign of the blatant cronyism involving the Export-Import Bank emerged this week.

    First Solar, a solar panel manufacturer, is by most standards a failing company. It suffered a net loss of $39 million in 2011, and an even greater loss of nearly $100 million in 2012. The company threw away $215 million at one point on solar panels that ended up failing at high temperatures. (A solar panel that can’t withstand heat?)

    But First Solar has political connections within the Obama Administration. And it also has a trump card: First Solar is a member of the “Business Alliance,” a secret clique of corporate donors to the Center for American Progress (CAP). CAP, in turn, lobbied Capitol Hill for First Solar, without disclosing the financial support it receives from the flailing solar energy company:

    Read More »

    Bill Richardson and the Curious Case of the Ex-Im Bank

    On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by CJ Ciaramella to discuss possible replacements for Lisa Jackson at EPA, Bill Richardson’s shady dealings with the Export-Import Bank and the future of Buzzfeed.

    Read More »

    GOP Leaders: “Let’s Just Get Something Done”

    Over the past few weeks, we’ve observed the Republican form of bipartisanship on display, particularly, with regard to Cantor’s deal to extend the Export-Import Bank.  Democrats wanted the extension with a 40% increase in the lending cap, GOP leadership wanted a 13% increase, while conservatives wanted to wind it down.  The grand bipartisan deal was finally forged, and the House voted to increase the lending | Read More »

    GOP Leaders: “Let’s Just Get Something Done”

    Over the past few weeks, we’ve observed the Republican form of bipartisanship on display, particularly, with regard to Cantor’s deal to extend the Export-Import Bank.  Democrats wanted the extension with a 40% increase in the lending cap, GOP leadership wanted a 13% increase, while conservatives wanted to wind it down.  The grand bipartisan deal was finally forged, and the House voted to increase the lending | Read More »

    Dear Tea Party, Applaud Rand Paul

    Senator Rand Paul (R-KY) has stepped up to the plate to fight reauthorization of the crony capitalist Export-Import Bank.  I wrote yesterday that the Tea Party is losing on this issue despite the heroic efforts of  Rep. Tom McClintock (R-CA) and other members who agree that the Ex-Im Bank is a high offense against free market capitalism. The Export-Import Bank was created in 1934 by FDR to facilitate trade | Read More »

    Dear Tea Party, Applaud Rand Paul

    Senator Rand Paul (R-KY) has stepped up to the plate to fight reauthorization of the crony capitalist Export-Import Bank.  I wrote yesterday that the Tea Party is losing on this issue despite the heroic efforts of  Rep. Tom McClintock (R-CA) and other members who agree that the Ex-Im Bank is a high offense against free market capitalism. The Export-Import Bank was created in 1934 by FDR to facilitate trade | Read More »

    Dear Tea Party, We Are Losing

    Please send more members to Congress.  The House just passed legislation that is offensive to free market capitalism reauthorizing the Export-Import Bank.  And only 93 conservative Representatives opposed.  Conservative cheers to Rep. Tom McClintock (R-CA) for making a speech on the House floor discussing the reasons why it is a terrible idea to reauthorize the crony capitalist Ex-Im Bank. A bill to reauthorizes the Ex-Im Bank through 2014 | Read More »

    Dear Tea Party, We Are Losing

    Please send more members to Congress.  The House just passed legislation that is offensive to free market capitalism reauthorizing the Export-Import Bank.  And only 93 conservative Representatives opposed.  Conservative cheers to Rep. Tom McClintock (R-CA) for making a speech on the House floor discussing the reasons why it is a terrible idea to reauthorize the crony capitalist Ex-Im Bank. A bill to reauthorizes the Ex-Im Bank through 2014 | Read More »

    The Cycle of Capitulation Continues

    In the past, we have chronicled the cycle of capitulation that is so emblematic of Republicans in the 112th Congress.  It goes like this: Democrats propose some odious and profligate legislative idea or budget bill and call for tax hikes as “pay-fors.”.  Conservatives advocate that we uproot the entire premise of the destructive legislation by drawing a line in the sand on the principles that | Read More »

    The Cycle of Capitulation Continues

    In the past, we have chronicled the cycle of capitulation that is so emblematic of Republicans in the 112th Congress.  It goes like this: Democrats propose some odious and profligate legislative idea or budget bill and call for tax hikes as “pay-fors.”.  Conservatives advocate that we uproot the entire premise of the destructive legislation by drawing a line in the sand on the principles that | Read More »

    Top Ten Reasons To End The Export-Import Bank

    Corporate Welfare and Crony Capitalism are the two phrases that come to mine when a free market conservative hears talk of reauthorizing the Export-Import Bank.  According to The Hill, it looks like the House will take up a Export-Import bank reauthorization, including a massive $40 billion increase in loan authority, as early as next week. A draft deal negotiated by House Majority Leader Eric Cantor (R-Va.) and Minority Whip | Read More »

    Top Ten Reasons To End The Export-Import Bank

    Corporate Welfare and Crony Capitalism are the two phrases that come to mine when a free market conservative hears talk of reauthorizing the Export-Import Bank.  According to The Hill, it looks like the House will take up a Export-Import bank reauthorization, including a massive $40 billion increase in loan authority, as early as next week. A draft deal negotiated by House Majority Leader Eric Cantor (R-Va.) and Minority Whip | Read More »

    Some GOP House Members Beg Leadership for Ex-Im Bank Extension

    Undoubtedly, as we pursue a limited government agenda, we face an arduous task in reducing personal dependency on government.  Democrats have successfully created a scheme where almost half the population pays no income taxes, while 40% receive something from the government.  Their relentless demagoguery makes it difficult to wean people off welfare and entitlement programs.  However, there is a lower hanging fruit in the statist | Read More »

    Some GOP House Members Beg Leadership for Ex-Im Bank Extension

    Undoubtedly, as we pursue a limited government agenda, we face an arduous task in reducing personal dependency on government.  Democrats have successfully created a scheme where almost half the population pays no income taxes, while 40% receive something from the government.  Their relentless demagoguery makes it difficult to wean people off welfare and entitlement programs.  However, there is a lower hanging fruit in the statist | Read More »