Alan Greenspan opposes reauthorizing Import Export Bank: Asked in an interview with the Hill whether he supports renewing the bank’s authorization — its charter expires Sept. 30 — the former Federal Reserve chairman said simply, “As an economist, no.” “But if I were a politician running for office, I suspect I might,” he added. Conservative lawmakers, such as House Financial Services Committee Chairman Jeb Hensarling (R-Texas) oppose the bank on the grounds that it is little more than “corporate welfare” that props up big businesses like Boeing. Echoing the arguments of free-market advocates on the right, Greenspan argued that the world would be better off without governments providing subsidies to businesses. “The Export-Import Bank is fundamentally a subsidy for American exporters,” Greenspan said. “But the other question you have to ask is, ‘Does international competition and global economic activity do better if no country subsidizes its exports?’ My answer is yes.”
Posted on: Thu, 18 Sep 2014 17:36:37 +0000
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