John Stossel on Crony Capitalism and the Export-Import Bank



There's capitalism, and then there's "crapitalism"—crony capitalism. Capitalism is great because it lets entrepreneurs raise money so they can scale up and get their products and services to more people. If there is free competition, innovators with the best ideas raise the most money, and the best and cheapest products spread far and wide.

But it's crapitalism when politicians give your tax money and other special privileges to businesses that are run by politicians' cronies, writes John Stossel. And the biggest funder of this crapitalism is the Export-Import Bank.