Even I am beginning to believe in the vast, right wing, 'Culture of Corruption'

Congressman made personal loan to bank president shortly before bank extended him $250,000-plus loan


John Byrne
Published: January 18, 2006
Link Here

Denies loan was a bribe; President says he recused himself from decision

Utah congressman Chris Cannon loaned nearly $100,000 to the president of a Nebraska bank who extended at least $250,000 in credit the following year to the representative's business venture in the state, RAW STORY has found.

Cannon's office confirmed that the congressman had extended a loan of between $50,000 and $100,000 to First National Bank of Gordon, Nebraska president Gary Ruse in September 1996. The following year, the Utah Republican's kosher beef-packing plant, Premium Beef, received a $250,000 to $500,000 loan from Ruse's bank.

A person familiar with the transaction asserts that Cannon's personal loan to Ruse was intended to ensure that he received a loan for his troubled beef-packing plant.

Cannon's office rejects the charge. A spokesman said that Ruse recused himself from the loan decision, and called any accusations of bribery "absurd."

"It was a loan of a personal nature," Cannon spokesman Charles Isom said of the congressman's loan to Ruse. "It's absurd to think the insinuation there being that the loan was made as a bribe."

Continues.....


---Oh. He is TOAST.

Buh Bye, Mr. Cannon.

Even without Abramoff, another one bites the dust.---