 Interesting cannabis cannabis cannabis is always interesting right so as you know many states in the United States have legalized marijuana so a significant number of states now have legal marijuana dispensaries businesses businesses are now growing marijuana all over the United States and selling it in various forms one of the problems with this is that it's still illegal according to federal law it's still a felony it's still a crime to sell marijuana to grow marijuana in terms of federal law now the feds are not enforcing that law very much but there is one area in which they are enforcing that is since almost all banks are you know have a national charter have a have a regulated by the feds all banks are regulated by the feds in one way the other then federal law applies to all these banks and one of the one of the regulatory principles is that banks are not allowed to deal with illegal businesses they're not allowed to actually sell sorry bank people who deal in into the legal activity you know I'm sure there's a technical term for what that means but it's a crime it's a crime to to bank an illegal business knowing knowingly so what happens is that you've got and this is true of credit card companies is true banks so what you have is a whole segment of the economy at least in the states where it's legal that is functioning legally but they cannot bank they're in all cash operation they have to carry cash they have to transacting cash they have to deal with cash they can't open a bank account they can't get a loan they can deposit money they can't write checks they can't use credit cards so the whole supply chain of marijuana is a cash business which means that it's an open invitation of robbers muggers money laundries organized crime and it's super inconvenient and indeed banks that have in the past banked more wanted dealers have gotten into trouble with the feds modules have been stopped because a bank has been discovered that they it has a lot of deposits of businesses that do more on that's not right anyway for change there's actually a billing Congress that's actually gonna fix a problem and actually do some good it's it's a new bill that aims to give the marijuana industry access to banking services and it's actually passed the Senate Banking Committee in a vote of 14 to 9 so you know he got some bipartisan support I wonder who the nine who voted against it are probably nine conservative Republicans it's it's being led by both Republicans and Democrats in terms of getting it through but I can't imagine Democrats being against this bill given that they want to they want to legalize everywhere 39 states of legalized marijuana so this will affect a big chunk it'll affect a lot of businesses it'll affect a lot of lives I mean what they should do is legalize marijuana nationally get rid of the federal law that bans it but short of that at least make it legal for marijuana businesses in states where it's legal to be able to deal with banks I mean that seems to be pretty straightforward and pretty simple you think somebody would have thought of this before but we are where we are in the world not much rationality out there