Money Laundering and the Global Drug Trade Fueled by Capitalist Elites

When investigative journalist Daniel Hopsicker broke the story four years ago that a DC-9 (N900SA) “registered to a company which once used as its address the hangar of Huffman Aviation, the flight school at the Venice, Florida Airport which trained both terrorist pilots who crashed planes into the World Trade Center, was caught in Campeche by the Mexican military … carrying 5.5 tons of cocaine destined for the U.S.,” it elicited a collective yawn from corporate media.

And when authorities searched the plane and found its cargo consisted solely of 128 identical black suitcases marked “private,” packed with cocaine valued at more than $100 million, the silence was deafening.

But now a Bloomberg Markets magazine report, “Wachovia’s Drug Habit,” reveals that drug traffickers bought that plane, and perhaps fifty others, “with laundered funds they transferred through two of the biggest banks in the U.S.,” Wachovia and Bank of America.

The Justice Department charge sheet against the bank tells us that between 2003 and 2008, Wachovia handled $378.4 billion for Mexican currency exchanges, “the largest violation of the Bank Secrecy Act, an anti-money-laundering law, in U.S. history.”

“A sum” Bloomberg averred, equal to one-third of Mexico’s current gross domestic product.”

Since 2006, some 22,000 people have been killed in drug-related violence. Thousands more have been wounded, countless others “disappeared,” torture and illegal imprisonment is rampant.

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