nancylebov (nancylebov) wrote,
nancylebov
nancylebov

Question for liberals and progressives, and possibly some conservatives

American banks are closing the accounts of small businesses near the Mexican border from fear of laws against money laundering.

As a libertarian, my opinion is easy to come to-- laws controlling drugs and forbidding immigration are bad and this problem wouldn't exist if it weren't for those laws. This might even be evidence that they're bad laws.

However, if you believe that the government should regulate business to prevent public harm, is this over the line? Would you change the laws about money laundering, and if so, how? Is this an example of people having to make sacrifices for the public good?

If you're a libertarian or have libertarian-flavored politics and would like to explain in more detail about why those are bad laws, go for it, but I'm definitely interested in hearing from people with other political orientations.

Meanwhile, I'm working on a theory about laws against remote harms are a problem.

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