Seven years ago, I got a call every parent fears: I lost my daughter to a driver who was high on “legal” marijuana. With this new pot vaping crisis, I’m worried more parents will lose their children if we don’t stop the growth of the marijuana industry.
Across the nation, a growing number of vaping-related illnesses and deaths have left government officials scrambling to fix a problem they should have seen coming.
After years of dubious claims by both the vaping and pot industries, we are now feeling acute consequences. America is beginning to wake up to some of these concerns. That is, everyone except the banking industry, which senses a massive investment opportunity: legalized pot.
While parents like me are losing their loved ones, the marijuana industry and its promoters are pushing a bill granting increased investment into the industry, dispensaries in Oregon and Colorado are furiously pulling contaminated vapes from their shelves, and pot growers are shipping their over-production of high-potency marijuana to and through non-legalized states.
The banking industry is now ramping up lobbying on Sen. Mike Crapo, R-Idaho. Indeed, Crapo recently announced his committee, the Senate Banking Committee, will take up legislation supported by the pot industry, disingenuously named the “SAFE Banking Act.”
The legislation, which would create an exception to U.S. banking law to allow lenders to make loans to marijuana firms even though it remains against federal law, is part of an aggressive effort to commercialize today’s new super-potent pot.
This would give pot shops and their corporate parent companies access to more investment capital even though marijuana has been proven to be addictive and harmful by medical science and is being used increasingly by young people in the form of flavored pot vapes. Today’s marijuana isn’t your Woodstock weed.