Daily Adams

Time for Ex-Im Bank Officials to Order Some Striped Pajamas?

Here’s what happens when America gives billions of dollars in effectual subsidies to big corporations via the Ex-Im Bank:

The U.S. Export-Import Bank has suspended or removed four officials in recent months amid investigations into allegations of gifts and kickbacks, as well as attempts to steer federal contracts to favored companies, several people familiar with the matter said.

One employee, Johnny Gutierrez, an official in the short-term trade finance division, allegedly accepted cash payments in exchange for trying to help a Florida company obtain U.S. government financing to export construction equipment to Latin America, according to a person familiar with the inquiry. Mr. Gutierrez was escorted from the Ex-Im Bank building in April, said two people familiar with the matter.

Via Officials at Ex-Im Bank Face Investigations @ Wall Street Journal.

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