Study Shows How Profitable Access to Obama's White House Was
By Timothy P. Carney | Washington Examiner
On April 12, 2017, former Boeing CEO Jim McNerney sat down in the West Wing with President Trump. Trump had, on the campaign trail, advocated abolishing the Export-Import Bank, a federal agency that typically subsidizes $10 billion a year in Boeing exports.
On April 13, Trump announced he would fill out Ex-Im's board of directors, thus reviving the agency's ability to subsidize Boeing's overseas customers.
This was a replay from eight years earlier.
Candidate Barack Obama had called Ex-Im "little more than a slush fund for corporate welfare." Obama soon picked McNerney and General Electric CEO Jeff Immelt as his manufacturing czar and jobs czar, respectively. GE is arguably Ex-Im's No. 2 beneficiary. Obama quickly came around on the agency, and became Ex-Im's most important ally in Washington.