The Wall Street Journal in recent days has published a variety of opinions on congressional reauthorization of the Export-Import Bank—which doles out subsidies to foreign firms to purchase U.S. products. Most of the arguments—pro and con—merit polite consideration. But others require a response. Such is the case with the June 17 letter to the editor…
Boeing, the biggest beneficiary of the U.S. Export-Import Bank, watched its stock drop by the biggest margin in months following House Majority Leader Eric Cantor’s primary election defeat Tuesday. A federal agency that subsidizes American exports, the Export-Import Bank regularly subsidizes Boeing’s foreign sales. Just last month, Boeing announced the bank would underwrite $10 billion…
Officials of the Export-Import Bank have gotten themselves into quite a pickle. The “small business” they continuously showcase as proof of their success actually has a different history than the promotional version. In a variety of videos, press releases, news accounts and blogs, bank Chairman and President Phil Hochberg extols Ex-Im for transforming Miss Jenny’s…