Running the drug money laundry is very profitable.

Laundering drug money through HSBC is as imprtant a job in the international drug trafficking industry as being a coca grower, or even a Cartel Honcho. And its got more perks. As we witnessed three years ago when Wachovia Bank admitted to laundering a stupefying $378 billion of drug money over a half-dozen years, nnobody goes to prison.

In fact, nobody even gets charged.

“‘Low-risk’ means don’t worry about the goddam drug money, got it?”

You can read more about it at former Assistant Secretary of Housing Catherine Austin Fitts tells all.

H/T to commenter John Thomas who left the CA Fitts link at A Market Correction