bodixa
3rd April 2011, 09:43
Very interesting article in today's Observer .. (UK Newspaper)
http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs
"How a big US bank laundered billions from Mexico's murderous drug gangs
As the violence spread, billions of dollars of cartel cash began to seep into the global financial system. But a special investigation by the Observer reveals how the increasingly frantic warnings of one London whistleblower were ignored."
"Meanwhile, the drug industry has two products: money and suffering. On one hand, you have massive profits and enrichment. On the other, you have massive suffering, misery and death. You cannot separate one from the other."
"What happened at Wachovia was symptomatic of the failure of the entire regulatory system to apply the kind of proper governance and adequate risk management which would have prevented not just the laundering of blood money, but the global crisis."
http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs
"How a big US bank laundered billions from Mexico's murderous drug gangs
As the violence spread, billions of dollars of cartel cash began to seep into the global financial system. But a special investigation by the Observer reveals how the increasingly frantic warnings of one London whistleblower were ignored."
"Meanwhile, the drug industry has two products: money and suffering. On one hand, you have massive profits and enrichment. On the other, you have massive suffering, misery and death. You cannot separate one from the other."
"What happened at Wachovia was symptomatic of the failure of the entire regulatory system to apply the kind of proper governance and adequate risk management which would have prevented not just the laundering of blood money, but the global crisis."