Friday, February 13, 2015

Democrats Are Into Big Business Cronyism Just as Much as Republicans

Veronique de Rugy writes:

Last night, the Hill announced that three top Democrats on the House Financial Committee will force a vote today on Export-Import Bank. Here is the report by Kevin Cirilli:
Three Democrats on the House Financial Services Committee moved Thursday to force the panel to consider reauthorizing the Export-Import Bank, according to a copy of an amendment first obtained by The Hill.

Reps. Gwen Moore (Wis.), Denny Heck (Wash.) and Maxine Waters (Calif.) offered the amendment in advance of the committee’s Friday markup of President Obama’s budget request.
In my opinion, there are two things going on here: First, for months the Finance Services committee chairman, Republican Jeb Hensarling, has been trying to do the right thing and let the agency’s charter expire. Thus, there’s currently no plan to move a bill approving Ex-Im through the committee. Hendarling’s fight to protect taxpayers’s money, restore some fairness by removing the bank’s distortions in the capital marketprotecting the bank’s unseen victims and putting an end the unhealthy marriage between the federal government and big businessesdoesn’t sit well with some.

At the same time, Democrats are just as much the party of big businesses rather than the defenders of the little people. Here are the Ex-Im Bank’s biggest beneficiaries

1 comment:

  1. The Republicans have been crony capitalists ever since their first President took power in 1861. The Democrats have been on the crony capitalist band wagon ever since President Wilson signed the Federal Reserve Act in 1913.