Bob L. Just My Opinion
Feb. 16th 2014
When does the Government do any thing unless it benefits them financially, and you know that this will benefit Democrats when it come to campaign contributions, and you can not say it won’t, Government does not do any thing unless it goes in their pocket-book.
The Government Agencies will do just like always, pass a law and then not enforce it just like all other laws that they have passed, and then when things backfire, they do some thing about it, like blame some one else for the failure of that law, even though they are the writers of the law that backfired in their face.
The way I see it is that the Government is opening up a way for money to be laundered and no one can do any thing about it, and you know that the Government won’t watch what these bank do after given the green light (remember they control the banks) to deal in illegal drugs and back terrorist groups, drugs could be stopped if the Government was stronger on enforcing these laws, but why should they, look how they are enforcing the law on illegals coming into this Country, so what makes you think that they are trying to stop illegal drugs from coming into this Country, they even gave a DRUG DEALER amnesty to bring in DRUGS to this Country while he was sending two border guards to jail for doing their jobs, and you think that our Government is not Corrupt when it comes to enforcing laws that they write and not enforce.
Industry still nervous, they should be, you know that you can no trust the Government.
Feds let banks and marijuana sellers do business, industry still nervous
Fox News’ Shayla Bezdrob and The Associated Press
February 14, 2014
The Obama administration took the unprecedented step Friday of clearing the way for banks to do limited business with marijuana sellers, releasing guidelines for how financial institutions can work with pot shops in states where it’s legal.
The move immediately was greeted with relief from the budding marijuana industry. Before the guidance, banks largely had avoided the new pot shops in Colorado for fear of federal prosecution — leaving marijuana sellers running cash-only operations.
It’s unclear, though, to what extent banks will engage those businesses. One industry group, the Consumer Bankers Association, voiced legal concerns despite the new guidelines and urged Congress to get involved.
“First, Congress must change federal law which bans the sale and distribution of marijuana. Then all federal regulators must provide clear and precise guidance,” group president Richard Hunt said in a statement. “Until then, the nation’s 7,000 banks will be highly reluctant to participate in this this new type of ‘commerce.'”
The guidance, from the Justice and Treasury departments, is designed to dovetail with legal guidance the Justice Department issued last year to federal prosecutors. In that document, Deputy Attorney General James Cole outlined eight instances where federal authorities would still investigate and prosecute marijuana sales — cases like selling pot to minors or sharing revenue with gangs.
Under the latest guidelines, banks would also be prohibited from dealing with sellers engaged in any of those illicit activities.
Friday’s guidance is intended to increase availability of financial services for legal marijuana businesses. But it still preserves the government’s power to enforce criminal laws.
“These guidelines, together with the Treasury Department’s guidance to financial institutions, are intended to increase the availability of financial services for marijuana businesses – that are licensed and regulated – while at the same time preserving and enhancing important law enforcement tools,” a Treasury Department spokesperson said in a written statement.
Washington state and Colorado became the first states in the country to approve recreational use of pot.
Treasury officials said Friday that the new guidelines do not mean anybody is immune from prosecution. They stressed there is “no safe harbor created” for anybody to do business for this type of client.
But banks are not expected to be prosecuted provided they steer clear of the eight areas outlined in Cole’s memo.