Cash from organized crime ‘rescued’ banks during crisis: UN official

Cash from organized crime ‘rescued’ banks during crisis: UN official

http://rawstory.com/2009/12/crime-rescued-banks/

By Raw Story
Saturday, December 12th, 2009 -- 8:29 pm

drugmoney Cash from organized crime rescued banks during crisis: UN officialThe vast majority of an estimated $352 billion in proceeds of organized crime, mostly from the drug trade, was funneled through the global banking system during the financial crisis of the past two years, and in some cases, the money rescued banks from collapse, says the head of the UN Office on Drugs and Crime.

Antonio Maria Costa told the UK Observer that intelligence agencies and prosecutors alerted him 18 months ago to evidence that drug money was being "absorbed into the financial system."

Consider the development of car audio systems without the impetus provided by drug related crime.

Nicely played., sir.