[Congressional Record Volume 141, Number 165 (Tuesday, October 24, 1995)]
[Extensions of Remarks]
[Pages E2008-E2009]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




PRESIDENT TAKES DECISIVE ACTION AGAINST NARCOTICS TRAFFICKING AND CRIME

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                          HON. LEE H. HAMILTON

                               of indiana

                    in the house of representatives

                        Tuesday, October 24, 1995

  Mr. HAMILTON. Mr. Speaker, I would like to call my colleagues 
attention to the important steps announced by the President over the 
weekend with respect to fighting narcotics and organized crime.
  As you are aware, the President announced a series of initiatives in 
his speech to the U.N. General Assembly designed to strike a blow 
against the everincreasing dangers posed by narcotics trafficking and 
organized criminal activity. Two of those initiatives, I believe, will 
seriously damage the narcotics trade.
  First, the President issued an executive order under the 
International Emergency Economic Powers Act freezing assets in the 
United States of 47 individuals and 33 companies associated with the 
Cali cartel and prohibiting any individual or company in the United 
States from doing business with these individuals or companies. By U.S. 
Government estimates, the Cali cartel controls 80 percent of the 
cocaine entering the United States. This executive order will hit the 
cartel where it hurts the most: their money.
  Second, the President announced his intention to impose sanctions 
under the Kerry amendment against countries that do not control 
effectively the use of their financial systems by narcotics 
traffickers, terrorists, and other criminal enterprises. Under the 
Kerry amendment, countries which do not have in place adequate laws and 
procedures to deter money laundering can be denied access to the U.S. 
financial system. President Clinton--for the first time since the Kerry 
amendment was enacted 7 years ago--has sent a clear message to 
countries that turn a blind eye to money laundering in return for 
short-term economic gains: There is a heavy price to pay for such 
actions and we will exact that price.
  The actions of the President have stepped up the pressure on 
narcotics traffickers and 

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organized crime, and show the commitment of this administration to 
attacking these problems both here in the United States and overseas. I 
commend the President and call on our friends and allies around the 
world to join him in his efforts.

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