Tuesday, January 31, 2012

Privatized Banking, It's Not Just For Financial Reasons

Wachovia (now part of Wells Fargo), was discovered to have allowed billions of dollars of dirty money to be laundered for the Sinaloa cartel. (The amount is staggering: $378,000,000,000… which is about a third of Mexico's GDP; the bank paid out $160 million to the Feds to settle the issue without having to admit fault.) 
During the height of the financial crisis, the laundered drug money was, according to the Guardian, "the only liquid investment capital available to banks on the brink of collapse." Despicable. You don't have to support bankers. 
Ethically, morally, and financially, the best thing you can do is Become Your Own Banker. Ask me how.

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