Tag: Maxine Waters

Categories
free trade & free markets insider corruption too much government

Maxine’s Ex-Im Brokerage

“In Maxine Waters’ economy,” wrote Timothy Carney yesterday, “big business rows the boat while government steers.”

The Democratic Congresswoman, known for championing the poor and the less well-off, just loves throwing money around.

Including to the rich.

Carney shows that, for all her anti-big biz talk, she’s playing into the hands of big business.

On Tuesday, Waters held a rally in support of the Export-Import Bank. Among the welfare queens on stage with her was a lobbyist for Boeing.

And not without reason. “More than 80 percent of Ex-Im’s subsidy dollars support big businesses,” Carney explains. “Ex-Im’s biggest subsidy product is long-term loan guarantees, and last year two-thirds of those . . . supported Boeing exports.”

Senator Mike Lee has come out swinging against Ex-Im, taking what he sees as the “moral high ground against political corruption.”

Maxine Waters objects to such upstart Republican interference in what she insists is a “legitimate” function of government. So used to robbing some to lavish on others, she apparently thinks this racket defines the government’s purview.

And Waters enthusiastically serves as a broker in the ongoing exploitation of consumers for the benefit of a few (insider-blessed) businesses.

In the marketplace, businesses get rich serving customers. When seeking taxpayer handouts, on the other hand, they get rich serving politicians.

Maybe that’s why  freedom troubles politician Waters.

This is Common Sense. I’m Paul Jacob.

 

Categories
Accountability too much government

Deep, Deep Waters

Are you surprised? I’m not surprised.

Turns out Congresswoman Maxine Waters had “family financial ties” to a bank for which she personally helped solicit bailout money. Without regard to its relative need or value to the economy.

Shocker.

Trillions in stimulus money, bailout money. And we expect politicians will allocate it according to some impersonal calculus that has nothing to do with who their chums are?

Nor can we expect the politicians and bureaucrats to sit back and let the market, or what’s left of it, function unhampered once bailout money has been forked over.

Many banks seemed to think they would simply be allowed to spend the subsidies according to their own judgment about how best to promote the health of their enterprises. But once the bailouts failed to work the instant magic they were supposed to, politicians began attaching strings. So that voters angry about the bailouts could see that there’s “accountability.”

It’s not just about trimming fat executive bonuses. The banks are also supposed to obey orders to cancel employee training, reduce dividends to shareholders, stop hiring employees from overseas, etc. This is about social engineering, not economic efficiency.

So, many banks now say they’ll give the money back. Good idea; great idea. But it would really surprise me if it found its way all the way back to taxpayers.

This is Common Sense. I’m Paul Jacob.