Here's something that may deter anyone doing business with Wells Fargo, one of the largest U.S. banks that absorbed Wachovia Bank after the 2008 financial collapse. Oh, and by the way, they were a recipient of more than $25 billion in tax payer money.
The U.K. Guardian had reported that Wachovia Bank, since 2008 had laundered more than $378 billion in Mexican drug cartel cash. That is roughly one third of Mexico's gross domestic product.
The U.K. Guardian also took a shot against the mainstream news media in America for ignoring this story and rightfully so, because the liberal left would look at something as an 'attack on Hispanics', even though the story is simply breathtaking, not to mention corrupt.
Authorities involved in the investigation uncovered billions in wire transfers and cash exchanges throughout Mexico exchanges into Wachovia accounts. In March of 2010, Wachovia had settled the largest action brought under the U.S. Bank Secrecy Act.
While Wells Fargo admitted wrongdoing and agreed to pay $144 million as a settlement for federal charges, I wonder if they have any remorse for laundering money to drug cartels that have been responsible for grisly and brutal violence throughout Mexico and also putting American tourists in danger over the years?
I am also curious to know how much of that $25 billion in tax money may have gone to the laundering as well?
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