August 11, 2015

NY Times hits federal marijuana policy hard

NY Times Editorial - Even as support for ending marijuana prohibition is building around the country, Congress and the Obama administration remain far too timid about the need for change.

...Instead of standing by as change sweeps the country, federal lawmakers should be more actively debating and changing the nation’s absurd marijuana policies, policies that have ruined millions of lives and wasted billions of dollars. Their inaction is putting businesses and individuals in states that have legalized medical and recreational marijuana in dubious legal territory — doing something that is legal in their state but is considered a federal crime. Many growers, retailers and dispensaries also have to operate using only cash because many banks will not serve them, citing the federal prohibition. Recently, the Federal Reserve denied a master account to a credit union in Colorado seeking to provide financial services to marijuana businesses.

... Even as Washington demurs, efforts to legalize marijuana continue in the states. In California, several activist groups are trying to get legalization measures on the 2016 ballot. The state was the first in the country to legalize medical marijuana, in 1996, and a majority of residents favor legalizing recreational marijuana, according to a recent poll by the Public Policy Institute of California.

1 comment:

Matt James said...

Why should the Federal Reserve, a private corporation not a public institution, play any role at all in interpreting federal v. state law in the granting of this so-called master account?