The Authorized Money Launderers

This isn't news to me. It's long been known in the drug policy reform community that big banks launder drug money.

Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result.

This is one very big reason they haven't legalized drugs. They know it would destroy the black market profit margins and all that lovely money would dry up. Just as the banksters own our politicians, the gangsters own the banksters. Ironic really that without the outlaws, the white collar criminals would have gone under.

[More posts daily at The Detroit News]