“Dating back to its founding in 1934, the Export-Import Bank of the United States has had a pretty specific mission: subsidize the export of American-made products by extending cheap credit to foreign companies looking to buy our stuff.
Whether the bank serves any legitimate purpose is another matter entirely. These days, the Export-Import Bank mostly acts as a slush fund for politically connected American corporations like Boeing and General Electric that would have no trouble doing business abroad but are more than happy to benefit from its largesse, doled out in the form of low-interest loans to potential buyers. Sometimes it also blows American taxpayer money on propping up government-run monopolies in foreign countries.
Still, the mission has always been clear. It’s right there in Executive Order 6581, which President Franklin Delano Roosevelt signed in 1934 to authorize “a banking corporation…with power to aid in financing and to facilitate exports and imports and the exchange of commodities between the United States and other Nations.” The bank’s current mission statement, too, clearly spells out a goal of “supporting American jobs by facilitating the export of U.S. goods and services.”
Now, quietly, the Ex-Im Bank is taking on a new—and entirely domestic—project.
At a meeting last week, the Ex-Im Bank’s board of directors voted unanimously to approve a so-called “Make More in America” initiative. The press release announcing the new program is a gobbledygook of crony capitalist doublespeak virtually devoid of specifics about how the program will operate or what it will cost. The new program “will create new financing opportunities that spur manufacturing in the United States, support American jobs and boost America’s ability to compete with countries like China,” Reta Jo Reyes, the bank’s president and board chair, says in the statement.
This latest development at the Ex-Im Bank is another aspect of the sprawling federal effort that began under President Donald Trump and continues under President Joe Biden to subsidize American manufacturing. The creation of a “domestic financing program” at the Ex-Im Bank was part of a series of supply chain recommendations made by the White House in June. A few days before Christmas, the Ex-Im Bank filed a vague notice in the Federal Register outlining plans to implement the program.
But there has been little clarity about what the program will aim to do, which businesses might stand to benefit from it, or how its results will be judged. In the announcement last week, the Ex-Im Bank only said that the new program will “immediately make available the agency’s existing medium- and long-term loans and loan guarantees for export-oriented domestic manufacturing projects.””
…
“the government will throw taxpayer dollars at investments that private capital markets have deemed too risky.
But how will the government decide which projects to fund? Toomey also asked the bank to explain what steps will be taken to “ensure that domestic transactions will not be influenced by political pressures.”
The Ex-Im Bank’s response to that query is even more worrying. There don’t appear to be any safeguards in place. “Financing is available to all qualifying applicants based on criteria established by law and agency practice,” Lewis wrote in reply.
Translation: Any company with the resources to hire the attorneys, accountants, and lawyers necessary to decipher the bank’s policies and sufficiently schmooze decision-makers can get paid.
“There is no reason that taxpayers should have to back domestic financing when we live in a highly developed market economy in which promising businesses have access to capital on competitive terms,” says Toomey.”
“Pittsburgh is expanding on a remarkably straightforward approach to creating new affordable housing: Force private developers to build it.
On Tuesday, the Pittsburgh City Council unanimously passed an ordinance expanding preexisting requirements that developers include below-market-rate units in their projects to more areas of the city. Now, builders of 20 or more units in Pittsburgh’s Polish Hill and Bloomfield neighborhoods must offer at least 10 percent of those new units at affordable rates to lower-income buyers and renters.
These types of “inclusionary zoning” policies are common across New Jersey, California, and the Washington, D.C., metro area. Supporters argue they ensure that existing residents see some benefit from new, luxury developments going up in their neighborhoods.
“There are imminent developments that could reshape our neighborhood, and we want to be able to preserve a balanced approach to development that ensures people of all income levels can find a home,” said John Rhoades of the Polish Hill Community Association to TribLIVE earlier this month.
Critics of inclusionary zoning say that even the best-designed policies have a poor record of creating new housing while raising overall housing costs. The theory is that developers raise rents on market-rate units to cover the lost revenue from the discounted, affordable apartments they’re required to build.
“It effectively becomes taxation on housing,” says Jim Eichenlaub, executive director of the Builders Association of Metropolitan Pittsburgh, to Reason. “You’re taxing those other units to pay for the subsidy.” Eichenlaub adds that if the market couldn’t support those higher rents, then the project probably wouldn’t have been built in the first place.”
“”Under an amendment adopted on 4 March, any Russian or foreign person can be sentenced to up to 15 years in prison for spreading ‘false information’ about the Russian armed forces,” Reporters Without Borders notes. “Under another law passed on 22 March, ‘false information’ about the activities of ‘Russian state bodies’ operating abroad – including the presidency, executive, parliament, national guard and Federal Security Service (FSB) – is also punishable by up to 15 years in prison.”
So, war gave Russian authorities expanded leeway to muzzle dissidents and prod a public already inclined to rally around their leaders. But if war arouses tribal instincts among the aggressors, it does so no less among the aggrieved. Under existential threat, Ukrainians understandably lose patience for those in their midst who are sympathetic to Russia or are suspected of undermining defense efforts.
“Eleven Ukrainian political parties have been suspended because of their links with Russia,” The Guardian reported last month. “The country’s national security and defence council took the decision to ban the parties from any political activity. Most of the parties affected were small, but one of them, the Opposition Platform for Life, has 44 seats in the 450-seat Ukrainian parliament.”
The Opposition Platform for Life had reportedly denounced the invasion, but it was undoubtedly pro-Russian in its sympathies and highly suspect in a situation where Ukraine’s continued existence is at risk. It was suspended under the provisions of martial law, which was extended on April 21 through May 25, and can probably be expected to remain in place throughout the war.
But it’s not just lawmakers. As open warfare became increasingly likely, the Ukrainian government banned media suspected of sympathizing with the enemy.
“Three pro-Russian TV channels have gone off the air in Kyiv after pro-Western President Volodymyr Zelenskiy signed a Ukrainian security council decree imposing sanctions for five years on eight media and TV companies,” Germany’s Deutsche Welle reported on February 5.
Then, in March, the Ukrainian government forcibly merged all TV stations under state control.
“The move means the end, at least temporarily, of privately owned Ukrainian media outlets in that country,” Deadline observed.”
“The village of Mount Pleasant, Wisconsin, is still dealing with the fallout of the infamous Foxconn deal the state struck in 2017. Former Governor Scott Walker promised the Taiwan-based tech giant $3 billion in state subsidies in exchange for a state-of-the-art factory to be built in Mount Pleasant, and said that the deal would generate 13,000 high-paying jobs.
Four years later, the factory was nowhere near completion, and the company had created merely 1,400 jobs. The state rescinded most of the subsidies, but the Mount Pleasant Village Board, the local governing body, had already authorized bulldozing dozens of homes, including via eminent domain, designating more than four square miles “blighted” to make the land even easier to seize from private owners. It also took on hundreds of millions in debt, leading to the town’s credit rating being downgraded.”
“Unlike most accounts of the American conservative movement, Matthew Continetti’s The Right begins in the 1920s, when two Republican presidents returned the country to normalcy after World War I. The ideals of that era’s Republicans were not so different from those espoused by former President Donald Trump today: They believed in cutting taxes, restricting immigration, and protecting American industry through tariffs. But there was one fundamental difference: Presidents Warren Harding and Calvin Coolidge rejected the populism of their age. They aimed to preserve American institutions. Trump is more like William Jennings Bryan, riding the coattails of discontent. He represents a time, Continetti argues, when an increasingly apocalyptic conservative movement “no longer viewed core American institutions as worth defending.””
…
“Traditionally, conservative elites have tried to channel populist sentiments into a respectable and successful movement. No one had to grapple with this question more than Buckley, the founder of National Review. The usual conservative narrative says that Buckley legitimized conservatism by being a gatekeeper: In keeping the conspiracism of the John Birch Society and the radical individualism of Ayn Rand at arm’s length, he made it less likely that conservatives would be labeled extremists. In the case of the John Birch Society, Buckley wrote a 5,000-word essay, “The Question of Robert Welch,” that condemned the group’s founder, arguing that “the best thing Mr. Welch could do to serve the cause of anticommunism in the United States would be to resign.” Buckley’s purges are often held up as a great success, but the reality is that Welch did not resign and the John Birch Society continued to have influence.”
…
“Continetti’s major contribution comes in explaining how conservatism has changed since the end of the Cold War. Here he details the conflict between neoconservatives, such as Bill Kristol, and paleoconservatives, such as Pat Buchanan. With their dedication to the culture war and their opposition to foreign intervention and immigration, the paleoconservatives presaged Trump’s electoral success in 2016.
The paleocons lost the political battles of the 1990s and 2000s. But the War on Terror ultimately discredited the neoconservatives, opening the door for populist discontent to capture the Republican Party. The first manifestation of this was the Tea Party movement. While Continetti draws a straight line from this to Trump’s election, in reality the Tea Party encompassed several strands of conservatism (all populist in nature) with conflicting conceptions of what 21st century conservatism should entail. Sens. Rand Paul of Kentucky, Marco Rubio of Florida, and Ted Cruz of Texas all rode the Tea Party wave to victory in 2010–12, and all had very different visions for the future of the nation—and very different visions from Trump’s. Nonetheless, the anti-establishment politics that emerged in the wake of the Iraq War and the 2008 financial crisis ultimately brought Trump to power.
It was during this time, from 2010 to 2016, that Continetti believes “the populist American Right [became] less interested in preserving institutions than in tearing them down.” One could hardly think of a better instrument for that purpose than Trump. Trump condemned illegal immigration and trade with China, announced “support for a ban on Muslim entry into the United States,” and recalibrated “American politics along the axis of national identity.” Many conservatives initially condemned him, and National Review even released a special issue titled “Against Trump.” One of its contributors called the candidate “a philosophically unmoored political opportunist who would trash the broad conservative ideological consensus within the GOP in favor of a free-floating populism with strong-man overtones.” Nonetheless, Trump won.”
“there’s little evidence that DHS has any interest or ability when it comes to admitting and correcting its flaws. Even the people specifically assigned to keep an eye on DHS seem more concerned with shielding the department from consequences for bad behavior than with tempering its malignancy.
“The Department of Homeland Security’s inspector general and his top aides directed staff members to remove damaging findings from investigative reports on domestic violence and sexual misconduct by officers in the department’s law enforcement agencies,” Chris Cameron of The New York Times reported earlier this month. Among the information suppressed were descriptions of cash payouts to settle sexual harassment claims without going through formal procedures. “The inspector general, Joseph V. Cuffari, also directed his staff to remove parts of another draft report showing internal investigations had found that dozens of officers working at the agencies had committed domestic violence, but that they had received ‘little to no discipline.'”
The documents were obtained and published by the Project on Government Oversight. Their existence was subsequently acknowledged by Mayorkas in an internal DHS memo. If history is any guide, don’t hold your breath waiting for big reforms. Charles K. Edwards, a former DHS acting inspector general, was charged with stealing proprietary software and confidential databases from the federal government. He pleaded guilty in January of this year.
Don’t harbor too much hope that DHS will improve its respect for people’s rights. A federal agency whose official watchdog hides details of abusive conduct by its employees against their colleagues and family members when it’s not pilfering property can’t be trusted to be diligent about addressing civil liberties violations against the general public. That’s especially true when those violations are seemingly a baked-in part of how the agency justifies its existence. To repeat the Brennan Center’s warning, DHS suffers from “a dangerous combination of broad authorities, weak safeguards, and insufficient oversight,” and it’s not at all obvious how to fix what’s so profoundly broken.”