Veronique de Rugy on the Crony Capitalist Machine That is the Export-Import Bank
Congress will soon debate the fate of the U.S. Export-Import Bank, an outfit that doles out money to favored corporations and foreign governments. For 80 years, the bank and the crony capitalists it supports have defeated every attempt to shut it down. But, writes Veronique de Rugy in the August/September issue of Reason, that may slowly be changing. In recent months a few Republican lawmakers-including Reps. Jeb Hensarling of Texas, Tom McClintock of California, Scott Garrett of New Jersey, Mick Mulvaney of South Carolina, and Justin Amash of Michigan, along with Sens. Mike Lee of Utah and Ted Cruz of Texas-have been working to put an end to the boondoggle.