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Hundreds of billions in crime money knowingly laundered by banks during credit crunch
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unbelieveable
Dec 13, 2009, 4:20:18 PM12/13/09
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http://www.boingboing.net/2009/12/13/hundreds-of-billions.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+boingboing%2FiBag+%28Boing+Boing%29
The Observer reports that an estimated $352bn of drug and mafia money
was laundered by the major banks at the peak of the credit crunch,
while regulators turned a blind eye, since the highly liquid criminal
underworld was the only source of the cash necessary to keep the
banks' doors open. As Charlie Stross notes, "A third of a trillion
dollars is a lot of money; it's enough to fund the US military
invading another country halfway around the world, or a manned Mars
exploration program." Charlie goes on to mention that now that these
narcobucks "aren't neatly bundled up inside the mattress any more;
they're in the system," that there's $0.3 trillion sitting there, nice
and legal, entering the investment world.
The Observer reports that an estimated $352bn of drug and mafia money
was laundered by the major banks at the peak of the credit crunch,
while regulators turned a blind eye, since the highly liquid criminal
underworld was the only source of the cash necessary to keep the
banks' doors open. As Charlie Stross notes, "A third of a trillion
dollars is a lot of money; it's enough to fund the US military
invading another country halfway around the world, or a manned Mars
exploration program." Charlie goes on to mention that now that these
narcobucks "aren't neatly bundled up inside the mattress any more;
they're in the system," that there's $0.3 trillion sitting there, nice
and legal, entering the investment world.
This is unbelieveable.
seeker
Dec 22, 2009, 9:29:25 AM12/22/09
to
On Dec 13, 6:20 pm, unbelieveable wrote:
> http://www.boingboing.net/2009/12/13/hundreds-of-billions.html?utm_so...
> The Observer reports that an estimated $352bn of drug and mafia money
> was laundered by the major banks at the peak of the credit crunch,
> while regulators turned a blind eye, since the highly liquid criminal
> underworld was the only source of the cash necessary to keep the
> banks' doors open. As Charlie Stross notes, "A third of a trillion
> dollars is a lot of money; it's enough to fund the US military
> invading another country halfway around the world, or a manned Mars
> exploration program." Charlie goes on to mention that now that these
> narcobucks "aren't neatly bundled up inside the mattress any more;
> they're in the system," that there's $0.3 trillion sitting there, nice
> and legal, entering the investment world.
>
> This is unbelieveable.
> http://www.boingboing.net/2009/12/13/hundreds-of-billions.html?utm_so...
> The Observer reports that an estimated $352bn of drug and mafia money
> was laundered by the major banks at the peak of the credit crunch,
> while regulators turned a blind eye, since the highly liquid criminal
> underworld was the only source of the cash necessary to keep the
> banks' doors open. As Charlie Stross notes, "A third of a trillion
> dollars is a lot of money; it's enough to fund the US military
> invading another country halfway around the world, or a manned Mars
> exploration program." Charlie goes on to mention that now that these
> narcobucks "aren't neatly bundled up inside the mattress any more;
> they're in the system," that there's $0.3 trillion sitting there, nice
> and legal, entering the investment world.
>
> This is unbelieveable.
Not so unbelievable! I had money missing from an account at Fleet Bank
that went completely unexplained at every level... all at a time when
the IRS had bank accounts with Fleet bank
money is also laundered through the U.S. post office in form of money
orders
♥Ari♥
Dec 22, 2009, 11:27:54 AM12/22/09
to
Idiot. Launder *your* drug money overseas.
> money is also laundered through the U.S. post office in form of money
> orders
wow what a revelation. lol
--
http://tr.im/1fa6
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