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Fed Wrist-slap for Wachovia Shows Drug War Farce

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opednews.com Headlined to H1 5/27/11

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"Indicting a big bank could trigger a mad dash by investors to dump shares and cause panic in financial markets, says Jack Blum, a U.S. Senate investigator for 14 years and a consultant to international banks and brokerage firms on money laundering. The theory is like a get-out-of-jail free card for big banks, Blum says."

Another anti-money laundering expert disappointed with the federal government's settlement with Wachovia is Robert Mazur, identified in that Observer article as one of the world's "foremost figures" in providing anti-money laundering training and the point-man for US law enforcement during prosecutions against Columbian drug cartels two decades ago.

Mazur told The Observer: "the only thing that will make the banks properly vigilant to what is happening is when they hear the rattle of handcuffs in the boardroom."

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Linn Washington is a weekly columnist for the Philadelphia Tribune and This Can't Be Happening. Washington writes frequently on inequities in the criminal justice system, ills in society and failings of the news media. He teaches multi-media urban (more...)
 

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The IRS targets teen baby sitters who don't declar... by Steven G. Erickson on Saturday, May 28, 2011 at 12:07:02 AM
This is a good article.One strange fact is how DOJ... by Kay Sieverding on Monday, May 30, 2011 at 8:33:53 PM