Daily Adams

Incumbents at the trough

The Ex-Im Bank didn’t exist to help small businesses — at least not in recent years. Over three-fourths of Ex-Im’s financial assistance went to just ten massive corporations, the top three recipients of which were Boeing, General Electric and Caterpillar. According to a study done by Veronique de Rugy of George Mason’s Mercatus Center, Ex-Im provided support for less than one percent — 0.28 percent, to be exact — of small businesses. Furthermore, in past years Ex-Im has been found doctoring their stats and mischaracterizing businesses with as many as 1,500 employees as a “small business.” Aside from manipulating data, Ex-Im has been plagued with scandal and corruption — with 31 open fraud investigations on bank employees.

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