C
crony capitalism • īl·’skraCH yo͝or·’bak ·and·’yo͞o
terminus
politicus
1. the only kind
crony • bak·’slap·ər
noun
1. anybody
that can be prevailed upon to lend you a few bucks under
the table
the table
as
in:
“Just
let it go,” Paul Ryan said of the Export-Import Bank, when he was running for
Vice-President in 2012. “Absolutely. Most of the benefits go to a few very large
companies [that frankly haven’t been all that helpful in our campaign]. I see
it as crony capitalism.”
(Bank officials contend that closing the
bank would hurt American workers, but to hell with them.*)
According
to the Washington Post online–
Tea-party-aligned groups such as the Club for Growth, Heritage Action and FreedomWorks began campaigning against the bank several years ago, describing it as an example of “crony capitalism” . . . .
“True
supporters of free enterprise must oppose corporate welfare of any kind,” Marc
Short, president of Freedom Partners Chamber of Commerce, the network’s main
financial arm, wrote to members of Congress on Thursday.
Koch
Industries, the Wichita-based diversified manufacturing company run by the Koch
brothers, is lobbying against the bank’s renewal — even though its subsidiaries
have benefited from its financing in the past. For example, overseas customers
of Georgia Pacific, the Koch-owned paper products company, received loan
guarantees from the bank.
“We’ve
lobbied against corporate welfare and will continue to vocally do so,” said
Philip Ellender, the company’s president of government affairs. “Koch has never
lobbied in favor of Ex-Im, but we will not place ourselves at a competitive
disadvantage by not participating in programs that are in place. [It would be
against our principles to let principle stand in the way of making money.]”
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* workers! - not bank officials
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* workers! - not bank officials
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