HotAir's Ed Morrissey sat down with House Financial Services Committee chair Rep. Jeb Hensarling (R., Texas) to talk about the rise of opposition to the Export-Import Bank.
"If there was a poster child for corporate welfare, it's probably the Export-Import bank," Hensarling told him.
"If you delve in deeply," Hensarling explained, "what you will find is the U.S. companies who benefit from this tend to be some of the largest, most well-financed companies in America — like Boeing."
Hensarling slammed Ex-Im for using "funny Washington" accounting, and allowing bureaucrats to make decisions that should be left to free people in a competitive market.
"It's engaged in political lending," Hensarling said. "They do ideological lending. I mean, they've got a green quota. They have a no-coal policy. They have a sub-Sahara Africa lending mandate."
Morrissey noted that the Export-Import bank used to only matter to policy wonks, but lately has become very controversial.
"It should be," Hensarling said. "Not one in 10,000 have probably heard of the Export-Import bank, but thanks to you and hopefully others we're getting more and more Americans to understand exactly what this agency does."