Then there’s the issue of widespread fraud, corruption, and bribery inside Ex-Im. The Wall Street Journal broke the story that Ex-Im suspended or removed four officials because of gifts, kickbacks, and cash-payment bribes. And the Heritage Foundation reports that there have been at least 74 cases since April 2009 in which Ex-Im officials were forced to act on the basis of “integrity” investigations by the Office of the Inspector General, with many of these cases referred to the Department of Justice.
Are we shocked when an exponentially growing government agency becomes rife with corruption? Many analysts assert that Ex-Im uses virtually no risk-management practices when assessing its loans. Does this sound familiar? Fannie Mae? Freddie Mac?
The good news is that the new GOP House majority leader, Kevin McCarthy, and the new whip, Steve Scalise, are opposed to reauthorizing Ex-Im. Of course, gigantic business lobbyists like the Chamber of Commerce and the National Association of Manufacturers are working hard for Ex-Im, and even want to raise its loan caps. But if the Republican Party truly wants to change its image of bailing out big banks and businesses, now is the time.
Just say ‘no’ to Ex-Im. The whole country will take notice.
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