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Corruption at Export-Import Bank alleged

laughing pigsThere are days when it just doesn’t pay to get out of bed. This is one of those for the Export-Import Bank. The Bank is already in jeopardy of seeing its charter expire in September because of its record of corporate welfare, the top 10 clients of the Bank receive 93% of all the money it dishes out, and the incoming House majority leader has said that he is inclined to let it die. Now, in addition of defending itself from allegations that it is a piggy bank for politically connected companies it has to address charges of real corruption. (See RedState’s Ex-Im Bank coverage here.)

A House panel has subpoenaed a former official at the U.S. Export-Import Bank who was recently placed on leave amid allegations of accepting gifts and kickbacks in exchange for helping a company win government backing.

The House Committee on Oversight and Government Reform, led by Rep. Darrell Issa (R., Calif.), issued the subpoena to Johnny Gutierrez on Thursday, calling for him to attend a congressional hearing on July 29.

Mr. Gutierrez was an official in the short-term trade finance division at the agency, who is under investigation by the Export-Import Bank’s inspector general for allegedly accepting cash payments and gifts in exchange for trying to help a Florida company win Ex-Im Bank support. He was recently placed on leave by the agency during the investigation.

Though a lot of the Ex-Im Bank’s friends are pulling out all the stops to get it reauthorized, each and every hit contributes in a way to peeling off support from the Bank and ensuring it is allowed to close its doors on September 30.

 

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