The Anti Ex-Im Odd Couple
Open The Books/ Forbes editorial | June 26, 2015
Read about U.S. Sen. Elizabeth Warren and James O'Keefe
U.S. Senator Elizabeth Warren (D-MA) and investigative journalist James O'Keefe at Project Veritas both exposed fatal flaws in the Ex-Im Bank. It's no wonder Congress didn't reauthorize the 81 year old crony boondoggle.
Feeding big business, big banks, dictators and authoritarian regimes from around the world, Senator Warren and James O'Keefe both discovered Ex-Im didn't have much to do with small businesses. In fact, a 'small business market gap in export lending' didn't exist according to U.S. Chamber of Commerce testimony in Senate committee hearings.
Over the last six weeks, our American Transparency (OpenTheBooks.com) oversight investigation gave context to the hot inside-the-beltway debate: should Ex-Im be reauthorized?
Our reporting was covered, used or cited by:
- leading editorials at Washington Times and Washington Examiner
- Deroy Murdock at National Review, Newsmax, and syndicated newspapers
- Heritage Foundation's Daily Signal news
- Marita Noon at Breitbart and syndicated newspapers
- Redstate to debunk the pro- Ex/Im statements from Congressman Adam Kinzinger (R-IL)
- Christine Lakatos throughout her encompassing oversight report
- Project Veritas investigation debunking Ex-Im small business myth
30 pages of deep - dive oversight into the opaque federal export bank
Read our Forbes oversight editorials:
1. The Export - Import Bank and the Art of Picking Losers
, click here
How is bankrolling of dictators, subsidizing authoritarian regimes, propping up green energy and destabilizing entire industries good for growth?
2. The Crony Boondoggle for Ex-Im Insiders
, click here
In 1970, the federal governments Export - Import Bank (Ex-Im) "spun-off" a private bank empowered to trade on the guaranteed loan portfolio of Ex-Im. It's owned by Citibank, JPMorgan, Chase, Boeing, and GE - some of the largest beneficiaries of Ex-Im support.
U.S. Senator Elizabeth Warren (D-MA) and video journalist James O'Keefe at Project Veritas have both exposed key flaws at the Export - Import Bank. If they can agree, why can't Congress?
In addition, we met with House Oversight Committee staffers to provide details of our work. We are proud to have played a small role in the larger national debate.
So, the Ex-Im Bank has expired and has one year to unwind its assets. Don't let Congress pull a fast one and reauthorize Ex-Im in July. Stay vigilant.