“Sacrificing The Rule Of Law In The Pursuit Of Justice.” Former Attorney General Richard Thornburgh delivers a well reasoned criticism of the expanse of federal criminal law and especially the legislation of serious penalties for crimes that are vague and ambiguous. His very interesting comments are in a written speech delivered to the Heritage Foundation in Washington D.C. and are available here.
Recently, in the Eastern District and elsewhere, banks have closed the accounts and sent packing the legal dispensary businesses. Several dispensaries in the Sacramento area, and San Joaquin as well, have had their accounts closed and the money frozen for a 30 day period.
The Press Democrat exposes the situation in the Northern District as well. One wonders what happens in Oakland and San Francisco, also the home of legal dispensaries and the financial and banking center of northern California.
Despite Obama’s proclaimed policy of respecting state marijuana laws, federal regulators are increasing the pressure on banks to crack down on medical marijuana businesses that are legal under state law. One might think that in this time of economic straits, federal regulators would have better things to do. In the words of California NORML, “An example of how the federal war on drugs has become a hydra-headed bureaucratic monster raging out of control.”Continue reading
Just a great explanation of how banks actually often profit on short sales and foreclosures, a profit in excess than if the loan never went bad.
Great explanation. Check it here