Candidate Obama Decried Ex-Im Cronyism, President Obama Embraces It

As a candidate for President in 2008, Barack Obama wanted to eliminate the Export-Import bank, which in his words was a “fund for corporate welfare.” Now that he is President, Obama has changed his mind and the White House now brazenly characterizes Ex-Im’s work as “essential,” and “vital” in helping big business access financing. With the Ex-Im Bank set to expire on June 30, its supporters are desperately fighting to keep it alive. After a series of scandals including allegations of bribery, the bank has become toxic and many former supporters have decided enough is enough.

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