The banking industry, what a long strange trip it’s been. From the International Herald Tribune, UNODC Executive Director Antonio Maria Costa….
“In many instances, drug money is currently the only liquid investment capital,” Costa was quoted as saying by Profil. “In the second half of 2008, liquidity was the banking system’s main problem and hence liquid capital became an important factor.”
The United Nations Office on Drugs and Crime had found evidence that “interbank loans were funded by money that originated from drug trade and other illegal activities,” Costa was quoted as saying. There were “signs that some banks were rescued in that way.”
I guess some things really are recession proof.
Take it away PT….
As always, don’t criticize it but click pause on the music player located in the side bar before playing the YouTube.
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