Friday, January 24, 2014
Which side of his mouth did he say this with?
Because Eric Holder is notorious for telling the masses one thing while doing what his bosses wants. His latest remarks seem in keeping with what his current boss wants.
Attorney General Eric Holder said Thursday that the Obama administration plans to roll out regulations soon that would allow banks to do business with legal marijuana sellers.As they say, "the proof of the pudding is in the eating", so we must wait to see what is produced and if they are honored, perhaps more in the breech, as Shakespeare would remind us.
During an appearance at the University of Virginia, Holder said it is important from a law enforcement perspective to give legal marijuana dispensaries access to the banking system so they don't have large amounts of cash lying around.
Currently, processing money from marijuana sales puts federally-insured banks at risk of drug racketeering charges. Because of the threat of criminal prosecution, financial institutions often refuse to let marijuana-related businesses open accounts.
The issue has taken on urgency now that Colorado and Washington have become the first states to legalize recreational use of marijuana. And medical marijuana dispensaries in other states have also had to buy inventory, pay employees and conduct sales entirely in cash — putting them at a high risk of robbery.
"You don't want just huge amounts of cash in these places," Holder told the audience at the University of Virginia. "They want to be able to use the banking system. And so we will be issuing some regulations I think very soon to deal with that issue."
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