Scott Garrett: The Credibility Ex-Im Needs
This administration was elected to drain the swamp, and one of its muckiest parts is the Export-Import Bank, that makes taxpayer-guaranteed loans to foreign companies that buy American products – often to use in competition with American companies that get no such advantage.
When politicians are picking winners and losers in the shadows, it shouldn’t surprise us that we find a particularly nasty breeding ground for corruption.
We can debate the merits of the Ex-Im Bank, but one thing is undeniable – it is an agency that needs a taxpayer watchdog on its board – and not just another lap dog for crony capitalists seeking to fleece taxpayers.
Scott Garrett is a watchdog. He has sounded the alarm on the Ex-Im’s more questionable loans and his leadership on its board would restore credibility to its decisions. The bank’s supporters should welcome an independent voice that could restore its reputation – and the President should insist on it.