Posted on 02/15/2014 9:40:49 PM PST by 2ndDivisionVet
DENVER — Bankers should beware of the Obama administration’s newly issued green light for banks doing business with the legal marijuana industry, according to the head of the Colorado Bankers Association.
Memos released Friday by the Justice Department and Treasury Department’s Financial Crimes Enforcement Network were intended to give banks leeway to open accounts for marijuana businesses in states like Colorado and Washington that have legalized retail pot. Instead, the guidance “only reinforces and reiterates that banks can be prosecuted for providing accounts to marijuana related businesses,” said the CBA in a Friday statement.
“In fact, it is even stronger than original guidance issued by the Department of Justice and the Treasury,” said CBA president and CEO Don Childears. “After a series of red lights, we expected this guidance to be a yellow one. This isn’t close to that. At best, this amounts to ‘serve these customers at your own risk’ and it emphasizes all of the risks. This light is red.”
Colorado’s first-ever legal marijuana market, which kicked off Jan. 1, has been hampered by a lack of access to bank accounts and small-business loans. Many of the state’s retail pot shops are cash-only enterprises, making them vulnerable to crime....
(Excerpt) Read more at washingtontimes.com ...
Obama shenanigans ping.
(Most folks say; "how high?")
I sayz - bbbbbwwwwwwaaahh
Oh what a tangled web we weave,,,,, Right Barry?
The “prompt” one morning this week in my daughter’s Honors English class was was “Does the government control too much of our lives?” My daughter responded with “yes, because we have a commie in the White House.” Others in the class had a similar attitude but she said there was disagreement if he was a communist or a marxist - but she also said the whole class agreed the federal government needs to leave the schools alone.
She’s in the 10th grade in a public school in the 2nd poorest county in the state where non hispanic whites are the minority in the school.
sorry this is OT, 2ndDiv, but I’m excited listening to this:
It Is Time For Boehner To Go!
http://www.theminorityreportblog.com/2014/02/15/it-is-time-for-boehner-to-go/
http://www.youtube.com/watch?v=yWLKVe4Pats
“According to the latest news crossing the web, Speaker John Boehner has been accused of having affairs with two women. This explains why Boehner was so very accommodating to anything and everything that Obama wanted to do. Although the House controls the purse, Boehner gave everything that Obama wanted to Obama.”
(the names of the women are given in the 6 minute video.)
Let’s go get stoned! hmmm
House may control the purse, but it sounds as if the White Hut is using the purses to control Boner.
Mortrey, why are you posting this rubbish?
The source is a National Enquirer article published 3 years ago.
http://www.nationalenquirer.com/celebrity/john-boehner-sex-probe
Weren't they the ones who got it right about John Edwards and Rielle Hunter, or whatever her name is this week?
As I recall, no other so-called mainstream news organization would touch that story.
We should just start dealing in just cash in all things.
If businesses would do this it would be easier to have a tax revolt.
Stop using banks.
This is how small business should fight back against the government
being in bed with big business. Just a crazy thought on how to get our money away from the government.
Think about it, Edwards is a Democrat, that’s why the lame stream media ignored the Enquirer story.
They will never show the same deference to any Republican, particularly top leaders. Not for 3 minutes, much less 3 years.
soebarkah king. You peasants.
SURE you can deposit your money in the bank. But if the government decides to go after you for any reason, the FIRST thing they'll do is audit your account.
Apparently these pot businesses are pulling in millions in cash.
Even the laziest IRS agent is gong to find that irresistible to investigate.
Heck doesn't a 10k deposit trigger automatic "attention" by the IRS?
They would leave a compromised republican alone at the request of the ruling party if said politician was easily blackmailed.
The moment they accept a single dollar, they are money laundering profits from the sale of a schedule 1 controlled substance under federal law and risk steep penalties, including but not limited to fines and asset forfeiture under RICO.
Last thing they want is the government poking around.
I really don't think the states of CO and WA really thought this through when they legalized pot.
It's not going to be all giggles and sunshine.
Particularly with an "unfriendly" IRS.
A "conservative" or "republican" pot shop owner may find themselves doing hard time.
Depending on what side of the bed the Emperor wakes up on this particular day.
BTW, the National Enquirer’s source is none other than the excrement wallower, the Daily Kos.
No one is suppressing this story at the request of the “ruling party” or anyone else, because there is no story. It’s garbage.
Too Big to Jail - How HSBC hooked up with drug traffickers and terrorists. And got away with it
Feb 14, 2013
The deal was announced quietly, just before the holidays, almost like the government was hoping people were too busy hanging stockings by the fireplace to notice. Flooring politicians, lawyers and investigators all over the world, the U.S. Justice Department granted a total walk to executives of the British-based bank HSBC for the largest drug-and-terrorism money-laundering case ever.
Yes, they issued a fine – $1.9 billion, or about five weeks' profit – but they didn't extract so much as one dollar or one day in jail from any individual, despite a decade of stupefying abuses.
http://www.freerepublic.com/focus/f-news/2988948/posts
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