Despite the fact that cannabis is an illegal narcotic under federal law, Attorney General Eric Holder said Thursday that the Obama administration will yet again act without congressional approval, and allow banks to start taking drug money.
With marijuana still outlawed at the federal level, the Obama administration has no real authority to allow the banks to take this money, which is barred under federal money-laundering rules. But that isn’t stopping them from drafting new rules, which they say will allow pot retailers in Colorado, and medical marijuana dispensaries in other states, to access banking and credit services.
Earlier this week, President Obama spoke in favor of legalizing the drug when he said,
“As has been well documented, I smoked pot as a kid, and I view it as a bad habit and a vice, not very different from the cigarettes that I smoked as a young person up through a big chunk of my adult life,” … “I don’t think it is more dangerous than alcohol.”
In my opinion, this debate has little to do with whether or not you want to legalize marijuana; I think the real problem here, is the fact that the Obama administration has yet again put itself above the law. To blatantly disregard the laws that are already on the books, and to again pretend they can just make up laws without going to congress, is very troubling.
Anyone who is in the business of cultivating, selling, or distributing marijuana, including “medical” marijuana, is in violation of the federal Controlled Substances Act. Since the Obama administration seems to think federal gun control laws trump state law – which I believe is complete bullshit – how exactly are the drug laws any different? They seem to have a big problem on their hands; you cannot enforce one set of laws while completely ignoring another.