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Illegal drug money saved banks during global finance disaster
Billions of dollars from the illegal drug business was the only thing that kept the global financial system from collapsing at the height of the banking crisis just over a year ago, according to the head of the U.N. Office on Drugs and Crime.
"In many instances, the money from drugs was the only liquid investment capital," Antonio Maria Costa said. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor."
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