One area that will see benefit is in the business owners who are currently stuck between a rock and a hard place when it comes to how to store their money, pay their employees and protect their assets. With fear of charges for supporting illegal business, banks have so far hesitated to back any of the cannabusinesses functioning in legal states. It’s not unreasonable, you can’t really blame them for not wanting to lose their businesses to what the Fed considered a crime. However, the new legislation will eliminate the fears for both business owners and the banks where they store their money. Currently, many dispensary owners are tasked with protecting their own assets by hiring security and stashing their money old school style, including stuffing it in mattresses and burying it in the yard.
Where Did All the Opponents Go?While opponents haven’t stopped chiming in about how legalized drugs may lead to social issues, breakdowns of family structures, and productivity at work, the statistics coming in from Colorado’s legal pot experiment seem to reflect just the opposite. The rate of violent crime has dropped and tax revenue is already being used to fund failing infrastructure, economy and even rehabilitative options for those who do feel like they are addicted to marijuana.
It probably comes as a surprise to very few that the GOP-led house finally passed a measure that would stop the DEA from raiding legal businesses. There is, after all, billions of dollars to be made here. That doesn’t mean I won’t enjoy this coming to of senses, even if it’s not for the reasons we have all been yelling about for more than 80 years.
What’s your take on this new legislation?