Because I have been wrapped up in print-magazine obligations (check your mailbox in one month, and subscribe in the meantime, including for our great new issue), I didn’t stop to mention the idiotic Congressional effort to defund the Export-Import bank while that debate was underway.
The anti-ExIm push has succeeded for now, and the results of this self-inflicted folly are starting to come in. The GOP/TeaParty case against ExIm was that it was another case of big government over-reach, and crony capitalism as well. As one of the Koch brothers-originated lobbying groups working against the bank piously puts it:
Let’s not stop to marvel at this spectacle: an industrial combine whose mining, pipeline, refinery, and other operations have been intimately connected with, and frequently protected by, government policies, inveighing against the crony-capitalist state.
Instead let’s look at the results.