deauthorize the Export-Import Bank

Ex-Im Bank Dead – Or Is It?

The Export – Import Bank’s charter officially expired at midnight last night and those opposed to its cronyism and corruption rightly celebrated its demise. But the celebration may be just a little premature as the corporate vampires who have gotten fat sucking the taxpayers dry through Ex-Im and other crony government deals haven’t given up on maintaining their subsidized loans and insider deals.

American Transparency Exposes Crony Boondoggle for Ex-Im Insiders

In a report that is truly shocking, even by today’s standards of insider pillaging of the American Treasury, openthebooks.com, a project of American Transparency, has documented how large private banks processed more than $127 billion in Ex-Im supported transactions since 2007, while having an ownership stake in the private bank empowered to trade on the guaranteed loan portfolio of Ex-Im.