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Cash from organized crime ‘rescued’ banks during crisis: UN official

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posted on Dec, 14 2009 @ 08:43 AM
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Cash from organized crime ‘rescued’ banks during crisis: UN official





The vast majority of an estimated $352 billion in proceeds of organized crime, mostly from the drug trade, was funneled through the global banking system during the financial crisis of the past two years, and in some cases, the money rescued banks from collapse, says the head of the UN Office on Drugs and Crime.

Antonio Maria Costa told the UK Observer that intelligence agencies and prosecutors alerted him 18 months ago to evidence that drug money was being "absorbed into the financial system."


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I think we all knew this has been going on for a very long time. This is exactly why drugs are illegal still - the authorities arrest people for drug related crimes, seize the drugs and sell them as well as seize the dealers money. Then the dealers are placed into jail where the government makes even more money off people from fines etc... If they were to make drugs legal (even just marijuana) they would not make as much as they do now redistributing the drugs and taking the money they get in busts (even if they taxed marijuana).




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