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$378 Billion for Drug Cartels from Wachovia, and No Charges!

Now isn't that a deceptive headline!

Because of course Wachovia charged the drug cartels a lot of money to launder $378 billion for them.

"No charges" only applies to the legal consequences of laundering $378 billion for drug-lords.

Wachovia admitted it didn't do enough to spot illicit funds in handling $378.4 billion for Mexican-currency-exchange houses from 2004 to 2007. That's the largest violation of the Bank Secrecy Act, an anti-money-laundering law, in U.S. history -- a sum equal to one-third of Mexico's current gross domestic product.

"Wachovia's blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations," says Jeffrey Sloman, the federal prosecutor who handled the case.

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