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In the double standards for us and them category: Wachovia launders drug dough

My colleague Jay Weaver at the Miami Herald reports this evening that federal authorities in Miami have busted Wachovia Bank for laundering $110 million for a Mexican drug cartel.

By agreeing to pay a $50 million fine and forfeit their Tony Montana money, Wachovia will avoid criminal prosecution.

I have just one thing to say about this deal: You try this. Go ahead. Times are tight. Try to launder your neighborhood drug dealer's loot through your Wachovia checking or savings accounts. And when you're caught, offer to pay a fine worth roughly 45.5% of the value of the dirty profits.

Let me know how that goes. And make sure to include the address of the federal prison where you'll be living for the next few years. I'll send flowers and ointment.

PS. Follow me at twitter.com/jamesburnett.


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Los Lobos

No doubt! These thieves have no shame. There at least use to be honor amongst thieves but this is out of hand. The fed could have taken the money and put them in jail.

This makes no sense to me. This must go higher than just Wachovia. Let me guess. They couldn't at least arrest the guy making all the deposits or maybe get some names so they can stop all the drugs from coming into the country. Could they have at least did that?


Ha ha ointment :) It's like they'll bully who they can bully. They won't go higher because they may not come out of it unscathed.


No! You didn't say ointment! LOL This type of thing happens all the time. We just don't know about it.

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