Jun
03
Ex-Im Renewal Gives Wall Street ‘Wet Kiss,’ Hensarling Says
ByThe bank’s chairman disputes assertions that the bank provides corporate welfare.
Democrats backing reauthorization of the Export-Import Bank are giving Wall Street a “big, wet kiss,” a House committee leader who wants to kill the bank told Ex-Im Chairman Fred Hochberg at a hearing Wednesday.
“Big banks profit off Ex-Im like few others,” said House Financial Services Chairman Jeb Hensarling, a Texas Republican and one of the staunchest opponents of extending the bank’s charter when it expires June 30. JPMorgan Chase & Co. has benefited from more than $5.1 billion in assistance from the bank, he said…
