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General News 3/8/2013 at 11:16 AM EST H1'ed 3/8/13

Elizabeth Warren: Bust banks that launder drug money

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Sen. Elizabeth Warren on Thursday demanded answers from top banking regulators over the possibility of shuttering financial firms that flout federal anti-money laundering laws or violate international trade sanctions. "If you're caught with an ounce of cocaine, the chances are good you go to jail. If you're caught repeatedly, you can go to jail for life," Warren told regulators during a Senate Banking Committee hearing. "Incidentally, if you launder nearly a billion dollars in drug money, your company pays a fine and you go home and sleep in your own bed at night."

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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