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A Bank with Congress in Its Pocket

Main St. Agenda by from Washington Post, March 11, 2015

Conservatives’ next disappointment will at least be a validation. The coming reauthorization of the Export-Import Bank will confirm their warnings about the difficulty of prying the government’s tentacles off what should be society’s private sphere.

The bank, which exists to allocate credit by criteria other than the market’s preference for efficiency, mirrors the market-distorting policies of foreign governments. These policies favor those countries’ exports that compete with America’s. Much of what the bank does is supposedly to “level the playing field.

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