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“Boeing’s Bank” Scandal: Indictments Imminent




|| By FITSNEWS ||  The crony capitalist U.S. Export-Import Bank (a.k.a. “Boeing’s Bank”) – which manipulates the free market by providing government-guaranteed loans to foreign companies – is staring down a major scandal on the eve of a vote to reauthorize its existence.

The bank – repeatedly exposed (here and here) as nothing but a government subsidy for crony capitalist kingpin Boeing – is facing a flood of criminal charges related to corruption and fraud in the doling out of its shady”loans.”

This week, former “Boeing’s Bank” officer Johnny Gutierrez was charged with bribery after he allegedly received cash on nineteen different occasions between 2006-13.

But Gutierrez’s corruption could be just the beginning …

“It’s not just the Gutierrez case,” U.S. Rep. Jim Jordan told The Daily Caller this week.  “There could be indictments on the other thirty-one.”

Wait … thirty-one?  That’s right …

During testimony provided to Jordan’s committee, the bank’s acting inspector general Michael McCarthy acknowledged corruption cases involving thirty-one additional employees.

Wow …



Two weeks ago, U.S. Rep. Mark Sanford – who likes to pretend he’s a free market conservative – announced his intention to vote in favor of the bank’s reauthorization even as he criticized its crony capitalist market distortions.

“We’re dealing with large corporations that are well funded and have access to a variety of different insurance and capital sources, and if we can’t knock out a program like that, then how are we going to knock out anything in terms of limiting government?” Sanford asked.

Easy: Because politicians like him are traitors.

Sanford said his support for the bank’s reauthorization was “wholly inconsistent” with his philosophical beliefs, but that he was voting for it anyway because it was “deeply important to a company like Boeing.”

Well, its executives anyway … including a CEO who made $30 million last year.

Will Sanford reconsider his tortured position on this crony capitalist slush fund now that criminal action is looming against the bank?

Messages to Sanford (and his spokeswoman, Amy Lazenby) were not immediately returned.

At the end of his first stint in Congress a decade-and-a-half ago, Sanford bragged about having kept his vow to “vote against any piece of legislation – regardless of the good it had for the District – if it was bad for the country as a whole.”

Where is that Congressman when we need him?

UPDATE: Looks like we’re not the only ones calling Sanford out.

UPDATE II: And it looks like Sanford doesn’t like being called out.