Yesterday's New York Times had a lengthy article on how the Drug Enforcement Administration has been laundering money for the Mexican cartels.
I respectfully suggest that anyone who doesn't think that the DEA was taking a cut of the money and that, in itself, was a reason why the DEA has been so eager to engage in money laundering, probably should stop reading this blog and go out looking for unicorns and leprechauns' gold.
(Of course, if you happen to work for the Feds and you wonder aloud if this makes any sense, you'll be fired.)
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Guesstimate the illegal drug trade is worth 100 billion in the US annually. (If you add up wholesale, retail, logistical, & support costs it could be twice that, but lets go with $100bil). That's 1 billion $100 bills. 2.74 million every day. Does anybody think that drug lords are flying that much currency south? And doing what? Building pyramids of bales of $100 bill in the jungle?
It's all being laundered, right here in the US, by banks - BIG banks, and since banks don't pay taxes we citizens don't even see a cut.
So I applaud the DEA for getting a little funding directly, rather than picking my pocket every April 15th.
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