Laundering Money for Drug Cartels and Other Evildoers Is Business as Usual for Banks

One of the reasons the media non-coverage of Fast and Furious falls so far short is that no one reports on how our banks are heavily involved in money laundering for drug cartels. The role of banks in helping whitewash Fast and Furious gets little attention,  and the more general record of banks is also ignored as if it could not possibly be relevant. We have told you about the record of banks on this blog, but there are many confirming sources of information.

The Washington blog recently devoted a post to the topic: “Big Banks Started Laundering Massive Sums of Drug Money In the 1980s … And Are Still Doing It Today.”

For More Than 30 Years, the Big Banks Have Been Key Players In the Drug Trade

It has become mainstream news that at least some of the big banks are laundering staggering sums of drug money.  See thisthisthisthisthisthis and and this.

But you may not know the scope or history of the problem.

Official statistics show that huge sums of drug money are laundered every year…

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Indeed, the head of the United Nations Office on Drugs and Crime says that drug dealers kept the banking system afloat during the depths of the 2008 financial crisis.

This started a long time ago. For example, Citibank was caught laundering drug money for Mexican cartels in 2001.

In the 1990s, earlier, Citibank apparently set up special client accounts for a big drug dealer

These stories all get reported as anomalies. But how many “anomalies” can be reported before we realize that we are dealing with a deep social trend? And it raises issues that go far beyond Mexico and the drug cartels there. It also starts making it seem very strange that we set up a policy of helping Afghani farmers grow opium.

Of course, I’m not claiming to know for sure how these policies are made and who might profit from them. I’m just saying that our media seems intent on waving all these stories away and insisting they don’t mean anything.

Use your brain; there is an ocean of corruption hiding under the placid surface of the media portrayals of American politics and business.