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Mass murder in Mexico

Discussion in 'The Atrium' started by FrankRizzo, Aug 27, 2010.

  1. FrankRizzo

    FrankRizzo Cheesehead

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    Mexico City, Mexico (CNN) -- A lead investigator and another official looking into the massacre of 72 migrants whose bodies were found this week in northern Mexico are missing, President Felipe Calderon said Friday.
    Calderon, who was giving a speech on drug violence, initially said the body of one of the men had been found. But he was handed a note few minutes later and corrected himself, saying the investigator was missing but there was no information about his death.


    Mexican media reported Friday morning that two bodies had been found and that one of them belonged to the investigator.


    The attorney general's office in Tamaulipas state, where the bodies of the 72 migrants were found Tuesday, identified the investigator as Roberto Jaime Suarez Vazquez. The news release did not name the other man other than to say he is a municipal police officer in San Fernando.
    Both men disappeared Wednesday afternoon, the attorney general's office said.
     
  2. FrankRizzo

    FrankRizzo Cheesehead

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    Jeez, keeps getting worse.

    NEW YORK (TheStreet) -- Violence in Mexico is having reverberations in the U.S. banking industry, with money laundering representing the greatest issue for investors, observers say.



    Mexico is getting "harder and harder" for banks doing business there even as other Central American countries, such as Colombia, have cleaned up their act, says Ellen Zimiles, global head of investigations and compliance for Navigant Consulting, which advises banks on how to prevent money laundering. However, Zimiles says banks that have had money laundering troubles in the past are often the least likely to get slapped with a fine.



    "The ones that have had issues are actually the best ones to look at now because, you know, they don't spit on the sidewalk."
    While Citigroup(C)'s Banamex unit has the most direct exposure to Mexico among U.S. banks, the issue also affects banks with major operations near the U.S.-Mexico border, including Wells Fargo(WFC), JPMorgan Chase(JPM).



    Even Bank of America(BAC) and American Express(AXP) have been tied to drug traffickers in branches as far away as Oklahoma City and Miami, according to a Bloomberg report. And earlier this year, Wells Fargo was forced to pay $160 million to settle Mexican money laundering charges brought against Wachovia, which it acquired in 2008.

    Perhaps surprisingly, past periods of violence in Mexico have been good for banks' profits, says Noel Maurer, a Harvard Business School professor and author of Mexico Since 1980.
    "It raises their costs, clearly, but they can push a lot of their costs on to their customers. They can raise net interest margins, they can cut back on lending and ration credit. They can--and I hate to say this--indirectly even help organized crime and provide services to organized crime."
    Maurer argues banks may be involved with criminals unwittingly in many instances.



    "It wasn't that every bank in Panama was dirty; it was simply that you couldn't bank in the eighties in Panama without engaging in money laundering unintentionally," Maurer says, noting that for retail banks in Mexico at the moment, particularly in the north, it is "becoming increasingly hard," to avoid doing business with criminals.
     
  3. ivo610

    ivo610 Cheesehead

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    Yeah I cant see myself going to Mexico anytime soon unless I need to launder money I guess.

    Funny how Cuba is more restricted than Mexico. So backwards.
     
  4. aaronqb

    aaronqb Cheesehead

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  5. FrankRizzo

    FrankRizzo Cheesehead

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    Yeah, it sometimes takes me 4 minutes to figure out how to get to the atrium now, and that includes just a few minutes after I posted a thread inside the atrium. It's a bit messed up, the format now.

    But Jersey Al and AaronQB aren't quite as powerful as PackerForum is when you want to go to a Packer Forum. No offense to brother Al. I like that these guys here offer a great Packer forum and additional topics.
    But I agree with you that the new format is a bit wacked up... I post at 3 other sites, 2 national ones, not Packer-specific, and this one is by far the hardest site-map to navigate, even with a compass in my hand.
     
  6. Green_Bay_Packers

    Green_Bay_Packers Cheesehead

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  7. PackersRS

    PackersRS Cheesehead

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    I'm gonna change the name of the topic, Frank. This is not a Mexico problem. It's gang problem. They killed some brazilians, and it's all over the news. The gang is actually formed by ex-US military...
     
  8. aaronqb

    aaronqb Cheesehead

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