Saturday, July 26, 2014

Why banks love the War on Drugs

After HSBC was fined $1.9B for laundering cartel drug money,
an HSBC email lamenting how the bank would lose $2.6 billion in revenue from U.S. dollar accounts that it was forced to close LINK
Given that kind of revenue, would you be surprised if banks were found to be a willing partner with the cartels?   Halting the War on Drugs would be a big financial hit for both of these partners.

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