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Boeing Gets Busted Violating Sweetheart Deal With Justice Department
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May 24, 2024
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5:44Now PlayingThe Department of Justice says that Boeing has violated a non-prosecution deal that they gave them years ago because the company has refused to make changes to help save lives. Mike Papantonio & Farron Cousins discuss more.
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
The Department of Justice says that Boeing has violated a non-prosecution deal that they gave them years ago because the company had refused to make any changes to help save lives. I've got Ring of Fire's Farron Cousins with me now to talk about this. And honestly, I say this all the time, you are without a doubt, one of the best progressive commentators in this business. I watch your stuff all the time. It's just, you nail it. And what's interesting to me is you nailed this story before it ever developed. Tell, let's talk about his story.
Yeah. So about five years ago is when Boeing started to see all of these problems with the 737 max. You had two massive disasters that led to more than almost 400 people dying and it's because Boeing had changed out a small part in the plane in the operating system. But they didn't tell anybody. They didn't tell the regulators like they're supposed to. They didn't even tell the pilots of the planes that, hey, we've kind of changed the electronics inside. Best of luck. So the planes crash. The DOJ looks into it and they say, well, we don't want to prosecute you. Give us two and a half billion dollars. We won't prosecute you, but you gotta change things. And Boeing said, oh, of course we're gonna change things. And then here, five years later, they didn't do anything.
They never do. I can't tell you the number of times with pharmaceutical companies, with Wall Street, with polluters that I have seen the same thing play itself out. We're not going to really throw anybody in jail. We're just gonna fine you now. Best example is the washing money for terrorists, HSBC washed a hundred billion dollars worth of money. They got fined $1.6 billion, and then they got one of these non-prosecution agreements. They're meaningless. All it is, is the government trying to protect themselves. In this situation, I promise you, you had doors flying off, entire door segments flying off. You had wheels flying off. You had, they couldn't even figure out why there were engine fires. You had the door plug where somebody is sitting completely coming off the airplane. And everybody looks at it and says, well, gee, maybe this is just a bad run of luck. No, it's not. It's Boeing trying to save money by having their subcontractors cut prices, cut costs, that type of thing. And they were under this agreement with the government, don't do that anymore. We won't throw anybody in jail. We won't prosecute you criminally. It doesn't mean anything when it comes from the Department of Justice.
Right.
They're not gonna do anything to this company. I promise you they're not. This is a company that makes missiles. You know, they're in the war business. So they're just gonna walk away from this and say, yeah, everything's fine, right?
Yeah. The DOJ says, well, we're gonna have a meeting the last day of May, and we're gonna sit and talk about this and figure out what best to do now. The thing they're gonna decide, like they always do, like they did originally is, we'll fine 'em more money because we don't want to go through the process of prosecuting them and years and years of this. Because if we lose, then we look bad. Oh, that could hurt my career when I leave the DOJ. I don't want to prosecute a company I may have to represent in court five years from now. So we'll fine you. We're just gonna pretend none of this happened.
But okay. You hit on something real important there. You hit on the fact that we have to look at who the lawyers are who make these decisions. Right? There are lawyers that are career lawyers, for one, they're with the DOJ forever.
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