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Drug cartels saved the banks during the 2008 crash
In 2005 a DEA drug dog flagged a plane in Florida for cocaine
Agents traced the money back to Wachovia Bank in Miami
Between 2004 and 2008 Wachovia moved $378 billion from Mexican exchanges with zero oversight
Mexico's entire GDP at the time was $1.3 trillion
One bank moved a third of that in 4 years
At least $110 million was confirmed Sinaloa Cartel cash
$13 million of it bought planes that shipped 22 tons of cocaine into the US
HSBC was doing the same thing in Mexico
Cartels built custom cash boxes sized to fit the bank counter and walked into HSBC branches with hundreds of thousands per day
Bank of America accounts in Oklahoma were used to buy planes that carried 10 tons of cocaine
An employee at Wachovia flagged it internally and got fired for it
Wachovia paid a $160 million fine on $12.3 billion in profit and not one banker was charged
HSBC paid $1.9 billion
Same deal
Zero jail time
Antonio Maria Costa head of the UN Office on Drugs and Crime said publicly that drug money was "the only liquid investment capital" keeping banks alive
Cartel cash kept the banks alive in 2008