Nothing will ever happen to ExIm Bank because Boeing could not stay in business without the running taxpayer's bailouts provided by ExIm Bank any more than General Motors could.
But politics are in play, so theatre is demanded.
No sooner than comes this comment,
The perp? Johnny Guiterrez? Down the memory hole... google him and get taken to the page at ExIm where he once resided:
http://www.exim.gov/about/contact/trade-finance.cfm
Where's Johnnnnny? He was just there....
Just as with all government economic policies, it has winners and losers. Boeing loves the ExIm bank, USA Airlines hate it (which is why it is controversial). Boeing "sells"jets to countries that cannot afford them or prefer Boeing subsidies to Airbus subsidies, taxpayer takes the bite, foreigners compete at lower costs than USA carriers, so more subsidies by taxpayers, bottom line taxpayers are always screwed. Big business is subsidized by big government, the USA middle class dies by 1000 cuts.
The "small businesses" "helped" by ExIm Bank seem to be, upon inspection, companies that should go out of business, and instead kept on support-scam, harm viable businesses.
Nothing will come of this. It does not happen that a government agency is eliminated. Johnny Guiterrez lost his job, will take his pension, move over to HUD and pick up where he left off.
Even if they eliminated ExIM Bank, they would simple move the function over to Goldman Sachs or somewhere else, and the exact same nonsense would continue. This stuff will not end until the United States ends. The United States will end because this stuff will not end. See: Soviet Union.
Feel free to forward this by email to three of your friends.
But politics are in play, so theatre is demanded.
No sooner than comes this comment,
“I think Ex-Im Bank is … something government does not have to be involved in,” he said. “The private sector can do it.”do we get this breathless story...
The Journal, citing unidentified sources familiar with the matter, reported that Johnny Gutierrez, an official in the Ex-Im Bank's short-term trade finance division, allegedly took cash payments in exchange for attempting to assist a Florida company in getting federal financing to export construction equipment to Latin America.Shocked, shocked! Who would ever imagine that anyone at the ExIm Bank would engage in fraud?
The perp? Johnny Guiterrez? Down the memory hole... google him and get taken to the page at ExIm where he once resided:
http://www.exim.gov/about/contact/trade-finance.cfm
Where's Johnnnnny? He was just there....
"The Bank takes thorough and immediate action when any hint of misconduct or fraud is detected by the safeguards we have in place, including working closely with our Inspector General," Bevens said.Prove it. Give the times and dates of offenses and how long it took you to find out. With EXIM protestations in place, a conflict of interest is set up in which they no more want to know about fraud than the Justice Dept wants to know what happened in Fast and Furious. Here are some details:
The IG is investigating whether Mr. Gutierrez accepted improper gifts from Gerardo "Jerry" Diaz, who runs a Florida company called Impex Associates, a person familiar with the matter said.Gerardo Diaz has quite a history, as do his associates.
Impex ramped up its operations a decade ago, selling U.S. construction equipment and supplies to developers, mainly in Latin America, according to Ex-Im Bank records and the 2006 lawsuit filed against Mr. Diaz by a former business associate, Rama Vyasulu.And to this crew, while in and out of Federal Courts, the ExIm bank is busy...
The agency has guaranteed numerous Impex deals, stretching back to at least 2002, according to agency records. For example, at one meeting in June 2007, the agency's credit committee agreed to guarantee financing for an Impex project worth between $1 million and $5 million in Mexico, and a similarly sized equipment sale to the Dominican Republic.The agency has also backed Impex deals in Jamaica and the Turks and Caicos, but not all projects were in Latin America. The agency in 2005 talked up its decision to guaranteea $30 million Impex construction project to build a housing community for oil and gas workers in Doha, Qatar.Gee whiz.... 2002... and on... and the people involved...
The Ex-Im Bank hasn't disclosed information about the investigations, and declined to comment on Mr. Gutierrez's status, citing privacy laws.So this was leaked. Otherwise it would be secret. How many other deals go this way?
The Export-Import Bank changed how it disclosed financing deals in 2010 and no longer discloses all the small business loans it originates. An agency spokesman wouldn't comment on the agency's recent involvement with Impex, though it has backed Impex deals through at least 2011.Whew... just in time. ExIm Bank keeps fraud secret and does not report its activities. But you can be assured, if anyone leaks proof of criminality, they have highly paid spokespeople to assure us they have "zero tolerance" for fraud. Zero! Like the SEC, tens years of Madoff antics before a news reporter finally exposed what everyone saw.
Just as with all government economic policies, it has winners and losers. Boeing loves the ExIm bank, USA Airlines hate it (which is why it is controversial). Boeing "sells"jets to countries that cannot afford them or prefer Boeing subsidies to Airbus subsidies, taxpayer takes the bite, foreigners compete at lower costs than USA carriers, so more subsidies by taxpayers, bottom line taxpayers are always screwed. Big business is subsidized by big government, the USA middle class dies by 1000 cuts.
The "small businesses" "helped" by ExIm Bank seem to be, upon inspection, companies that should go out of business, and instead kept on support-scam, harm viable businesses.
Nothing will come of this. It does not happen that a government agency is eliminated. Johnny Guiterrez lost his job, will take his pension, move over to HUD and pick up where he left off.
Even if they eliminated ExIM Bank, they would simple move the function over to Goldman Sachs or somewhere else, and the exact same nonsense would continue. This stuff will not end until the United States ends. The United States will end because this stuff will not end. See: Soviet Union.
Feel free to forward this by email to three of your friends.
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