The Export-Import Bank
 

Why care if this FDR creation dies? It's only American jobs and small businesses being lost and it makes the big banks stronger if they fold up their tent over at the Ex-Im.

This shaping up to be a serious bone of contention between the uber libertarian nihilistic Tea Party wing and the Chamberpot of Commerce wing of the 'publican party as it comes up this summer for re-authorization, it expires in September. If they duke it out, as it looks like they will (if the raging right stays true to form) it'll be a nice gift to the Dems heading into midterms.

http://www.washingtonpost.com/blogs/...tates/?hpid=z2

http://en.wikipedia.org/wiki/Export-..._United_States

Ignorant 'Baggers are feeling their oats and feeling dissed after their shellacking in the primaries. They're trying to differentiate themselves from the establishment, without regard to the consequences. I'm pretty sure that there's nary a 'Bagger who even heard of the Export-Import Bank before last month and only opposes it because the Freedomworks nihilists are pulling their strings on talk radio, Fox, etc. The GOP's useful idiots are becoming less than useful to the party.

There was a bagger GOP State Representative on Chuck Todd this morning talking about how his establishment Republican opponent supports the Chamber Of Commerce and how said Bagger was going to use that against him in a primary.


I said to myself holy shit the GOP is going off the rails. They do not like the Chamber of Commerce? WTF?

So you think this thing originates in ideology? I think I'm more cynical. I think the string-pullers have profit and/or factional power motives.

The Export-Import Bank is the financing of last resort for purchasers of American exports and is used for about 2% of exports. It costs taxpayers nothing (it actually makes a profit) and is a response to virtually all other export nations doing the same. The 'Baggers have chosen to highlight it now because its authorization expires this Fall and they want to be able to claim that they've stopped an example of "crony capitalism."

That is factional power, then. A symbolic victory for the troops, a demonstration of power for their rivals.

I do not credit the string-pullers with any principled objection to "crony capitalism," or to anything else.

The left is siding with the 'Chamberpot of Commerce'? :p

Pete

Names like that do sort of get in the way of tactical alliance, compromise, and other normal exercises of the political art....

No, it's more like standing by gawking at the train wreck that is the modern day GOP.