9 April, 19:06

Big Banks Back Mobsters and Murder in Mexico: Analyst

Big Banks Back Mobsters and Murder in Mexico: Analyst

By Molly Seder

WASHINGTON (VR) – Violence and murder is on the rise around Mexico City. It traces back to the drug trade, but does the story end with the gangs? Peter Watt, a co-author of “Drug War Mexico,” told VR violence is the “result of a climate of impunity in which violent crime goes largely unpunished.”

That may sound contradictory, as US counter-drug policy often makes international headlines. The recent capture of Sinaloa cartel chief Joaquín Guzmán Loera, known as “El Chapo,” is one example. But Watt stresses that the gangs are only one layer in depths of corruption.

Watt says to ask the question of how to solve the violence in Mexico is larger than how to capture the next “El Chapo”. But Watt thinks governments are unwilling to address the major structural problems that contribute to the drug trade, like unemployment, poverty and corruption in the major institutions including police forces, government and the army. And perhaps most significantly, they’re unwilling to tackle the big banks that make money off the drug trade.

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