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A new must-read article in the August issue of Bloomberg Markets smashes open the world of shadow banking between large banks in the United States and their role in the funding of Mexican drug operations.
Back in March, Wachovia struck a deal with Federal prosecutors under which the bank admitted it didn't do enough to prevent money-laundering between criminal organizations, in which illicit funds transferred flew past the $300 billion mark.
Now Wachovia faces charges from the Dept of Justice.
Originally posted by monkeySEEmonkeyDO
reply to post by desert
All we need is honest/hard working people in the government to regulate the current laws that we have.
Originally posted by desert
Money laundering. Needs constant vigilance. No wonder corporate/financial shills push for less govt, hands off the "free market". Sometimes govt hands can go around corporate/financial throats.
I can remember this case from the 1980s.