March 5, 2012 3:44PM

The Ex‐​Im Bank and Crony Capitalism

My esteemed colleague Sallie James broke ground last summer with an excellent expose of the corporate welfare role played by the Export‐​Import Bank of the United States. Until this past weekend, Sallie’s had been about the only analysis in the public domain to find the Ex‐​Im Bank’s activities unseemly, market‐​distorting, and anathema to free market capitalism.

Thus, I was heartened to see that an editorial in the last Saturday/​Sunday edition of the Wall Street Journal picked up on Sallie’s theme and emphasized some of her most salient points. Hopefully, the WSJ and other prominent news outlets read and amplify Sallie’s follow‐​up, forthcoming analysis, which shines some light on ExIm’s growing role in the business of financing the domestic sales of select U.S. companies.