Abolish Ex-Im Bank, Don’t Reform It

Over at the American Spectator, University of Chicago lecturer Frank Schell recently published a column arguing that the Export-Import Bank should be reformed, not abolished. Today, I have a piece disagreeing for two reasons:

First, Congress has no appetite for substantive changes. Second, corruption and favoritism are inevitable consequences of Ex-Im’s very mission. As such, Congress should let the agency’s charter expire…

America’s entrepreneurs are talented and resourceful enough to compete in global markets without having to spend time influence-peddling in Washington. They deserve the opportunity.

Read the whole thing here.