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View Diary: WATCH: Matt Taibbi on Our Blind Eye to Shockingly Bad Behavior (172 comments)

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  •  The consequences of laundering drug money (7+ / 0-)

    are real.

    “If you don’t see the correlation between the money laundering by banks and the 22,000 people killed in Mexico", (note, that number is now up to 50,000)"Dead, you’re missing the point,” Woods says...

    Some of the gangs have delved into other illegal activities such as gunrunning, kidnapping and smuggling people across the border...

    There are consequences to financing terrorists, drug lords, and rogue regimes too.  
    Foreign HSBC banks actively circumvented U.S. safeguards at HUBS designed to block transactions involving terrorists, drug lords, and rogue regimes.  In one case examined by the Subcommittee, two HSBC affiliates sent nearly 25,000 transactions involving $19.4 billion through their HBUS accounts over seven years without disclosing the transactions’ links to Iran.

    Either way--there are/ will be consequences.  If banks realized that they will be prosecuted and people will go to jail, for violating money laundering laws, fraud, and financing terrorism/ rogue regimes, would they continue to do those things, or would they quickly start policing themselves?  After an example was made of one big bank, would the others continue breaking the laws?  

    As long as the banks continue to get away with criminal activity including fraud, they will continue to do what is profitable, even if it is illegal.  

    And there are some very real--very painful, even fatal-- consequences to that.  

    •  The Calderon administration quit announcing the (3+ / 0-)
      Recommended by:
      elwior, JesseCW, kurious

      annual drug deaths a while back. At the time, it was over 60,000 and many considered that to be seriously undercounted (likely very intentionally).

      Others have provided estimates of 100,000 to 120,000 or more.  My god.  The USA lost around 60,000 troops in the many years of open warfare of Vietnam.  

      Mexico has lost 100,000 citizens in Calderon's 6 year drug war, spurred on by Bush's "Merida Initiative" which was stimulus money for military involvement.

      Personally, I believe it is very likely that the number of actual deaths is double the government numbers, at least.  We're still hearing about mass grave after mass grave being uncovered across the country. And whether those numbers are being tabulated correctly isn't known.  We do know most deaths are not investigated (like 98%!) and many bodies are never even identified.

      Can you just imagine that happening here?  Proportionately, that would be over 360,000 American dead in 6 years.  Look at what our reaction was after the losses of 1/100th that number --  ~3,000 -- on 9/11.

      "The law is meant to be my servant and not my master, still less my torturer and my murderer." -- James Baldwin. July 11, 1966.

      by YucatanMan on Fri Feb 01, 2013 at 08:34:28 PM PST

      [ Parent ]

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