Legal Pot: Gateway to State-Run Banking

If ever a hippie dream existed, it would probably look something like what’s being proposed in Washington by Democratic State Senator Bob Hasegawa. He wants to open a state-run bank specifically to serve Washington’s newly legal marijuana industry. The proposal would solve two real problems: Pot businesses would no longer be trapped in an all-cash economy thanks to federal laws that prohibit banks from handling drug money, and the state would send less money to Wall Street.