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The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

theguardian.com

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Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#11

Post by scottLobster »

abfan1127 wrote: post #5
ajross wrote: post #2

This article is repeating a transparently false framing as the truth. This wasn't a law about cartel money laundering, which doesn't happen near the border anyway. Money laundering at scale happens in the global market and always has. The clear purpose of the regulation was exactly the "side effect" detailed in the article: hurting immigrant communities that maintain ties across the border. And it worked. It does no…

The issue is that it wasn't "clear" to sufficient people. Too many people believe at face value the claims. Some of them honestly believe the face value claims.

I'm not sure that more information will help those people. I saw an interview with a Haitian-American restaurant chain owner who voted for Trump and was dismayed that he might have to close a couple of locations due the removal of Temporary Protective Status for Haiti causing him to lose employees. He said that Trump sold him on the idea that "he was a businessman, and would act like a businessman", and that he now regrets his vote.

Like, the "eating the cats and dogs" line, specifically targeted at Haitians, wasn't enough for you to think that maybe this guy didn't have your best interest at heart? Also Trump's history as a "businessman" is anything but wildly successful or something to envy.

These people will see whatever they want to see until they get hit, so unless you're in a position to provide the hit, or somehow impart discernment that most elementary school kids have, they can only be contained and we should be happy if they pay their taxes and don't vote.

Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#12

Post by alistairSH »

throwaway894345 wrote: post #8
bix6 wrote: post #3

Ah yes let’s ruin someone’s life over $200 but nobody look at Trumps accounts. He definitely was debanked for political reasons and not because he was laundering money.

> He definitely was debanked for political reasons and not because he was laundering money. What proof do you have? On what planet would major banks piss off the most capricious and unrestrained president in modern US history? What possible upside could there be for them? Trump (34 time fraud felon known for scamming everyone he can and using his position in government to massively enrich himself) was almost certainl…

I think the parent post was sarcasm.

Capital One closed hundreds of Trump's accounts in 2021. Trump is suing them, claiming it's a political debanking. CapOne fighting back because they feel their AML team was correct to close those accounts.

https://www.reuters.com/legal/government/capital-one-says-it...

Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#14

Post by bix6 »

throwaway894345 wrote: post #8
bix6 wrote: post #3

Ah yes let’s ruin someone’s life over $200 but nobody look at Trumps accounts. He definitely was debanked for political reasons and not because he was laundering money.

> He definitely was debanked for political reasons and not because he was laundering money. What proof do you have? On what planet would major banks piss off the most capricious and unrestrained president in modern US history? What possible upside could there be for them? Trump (34 time fraud felon known for scamming everyone he can and using his position in government to massively enrich himself) was almost certainl…

My post was sarcastic. July 12th Capital One said they closed accounts due to AML concerns.

https://www.snopes.com/fact-check/capital-one-close-trump-ac...

Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#15

Post by tangamandapio »

ajross wrote: post #2

This article is repeating a transparently false framing as the truth. This wasn't a law about cartel money laundering, which doesn't happen near the border anyway. Money laundering at scale happens in the global market and always has. The clear purpose of the regulation was exactly the "side effect" detailed in the article: hurting immigrant communities that maintain ties across the border. And it worked. It does no…

The belief that all the people you yourselves elected are lying all the time and openly out to get you is such an uniquely Gringo idea it's entirely possible the migrants in this community, like the one showcased in the article, mistakenly took the racists' word at face value.

Retrospectively, looking at the various kinds of concentration camps set up all over the country, that might have been a bad choice to make. But that doesn't make it a less reasonable one at the time.

Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#17

Post by thinkcontext »

ajross wrote: post #2

This article is repeating a transparently false framing as the truth. This wasn't a law about cartel money laundering, which doesn't happen near the border anyway. Money laundering at scale happens in the global market and always has. The clear purpose of the regulation was exactly the "side effect" detailed in the article: hurting immigrant communities that maintain ties across the border. And it worked. It does no…

Its a particularly galling policy for disproportionately hurting small businesses given the number of money laundering, sanctions avoidance, etc big fish Trump has pardoned, ended investigations and enforcement generally.

Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#18

Post by ratelimitsteve »

tangamandapio wrote: post #15
ajross wrote: post #2

This article is repeating a transparently false framing as the truth. This wasn't a law about cartel money laundering, which doesn't happen near the border anyway. Money laundering at scale happens in the global market and always has. The clear purpose of the regulation was exactly the "side effect" detailed in the article: hurting immigrant communities that maintain ties across the border. And it worked. It does no…

The belief that all the people you yourselves elected are lying all the time and openly out to get you is such an uniquely Gringo idea it's entirely possible the migrants in this community, like the one showcased in the article, mistakenly took the racists' word at face value. Retrospectively, looking at the various kinds of concentration camps set up all over the country, that might have been a bad choice to make. B…

in fairness: the people we elected lie a lot and one of them has built a personal army that he uses to fill the concentration camps you allude to.

Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#19

Post by ratelimitsteve »

bix6 wrote: post #3

Ah yes let’s ruin someone’s life over $200 but nobody look at Trumps accounts. He definitely was debanked for political reasons and not because he was laundering money.

the problem with Poe's Law is that when someone else violates it by misreading your sarcasm you're the one who has to pay the fine in fake internet points.

Re: The US tried to stop cartel money-laundering; devastated mom-and-pop businesses

#20

Post by exe34 »

throwaway894345 wrote: post #8
bix6 wrote: post #3

Ah yes let’s ruin someone’s life over $200 but nobody look at Trumps accounts. He definitely was debanked for political reasons and not because he was laundering money.

> He definitely was debanked for political reasons and not because he was laundering money. What proof do you have? On what planet would major banks piss off the most capricious and unrestrained president in modern US history? What possible upside could there be for them? Trump (34 time fraud felon known for scamming everyone he can and using his position in government to massively enrich himself) was almost certainl…

Congratulations on your humour bypass! I hear it's a difficult surgery. You must have had a good surgeon.
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