Letter: Big banks too dependent on dirty money

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The unstable nature of the multinational banks and their dependence on central bank bailouts and drug money laundering underscores the accelerating nature of the financial breakdown.

The releases on Viktor Ivanov, the Russian anti-drug czar, and former U.S. anti-drug czar Ret. Gen. Barry McCaffrey illustrate how sovereign nation/states are inundated by Dope Inc. Unfortunately, McCaffrey is retired and we do not have an anti-drug czar of the stature of Ivanov.

Moody’s recently downgraded the six largest Canadian banks. Also, a 15th-century Italian bank would have gone under, but it was bailed out. Bailouts are only temporary.

Tags: opinion, letters