For some reason, the average person is infatuated with drug trafficking and the stories that come along with this activity. Pablo Escobar and El Chapo are two names that are immortalized across the world and not for a good reason. Despite how they defended these actions, they helped destroy countless lives, and this damage is still felt today. Cocaine is mainly responsible for deterring the uprising of African Americans in the United States and completely dismantled the civil rights movement. Whether you believe this activity was administered with the help of the federal government is another discussion entirely. With that said, the bankers in this nation are looked at similarly after the collapse of the economy back in 2008.
Today, US Customs seized a JPMorgan owned ship that had roughly $1 billion worth of cocaine onboard. This street value translated to approximately 20 tons of product being shipped by a vessel owned by the largest financial institution in this country. Jamie Dimon has most likely been on the phone with at least one financial expert witness today.
Mistrust of the Financial Industry:
After the Great Recession of 2008, the population’s trust in the banking industry was most likely lost forever. With all of the information that has come out about that event, this is certainly not shocking news. With the story that broke today relating to the JPMorgan ship, there are a lot of questions that need to be answered now. It needs to be noted that this was the most significant drug bust by US Customs in history. Since a bank owns this ship, one can assume that information was leaked for some reason.
There is no reason why this vessel would be traveling with all of this contraband unless they were assured safe passage to the desired destination. It will be interesting to see how JPMorgan comments on this developing story.
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