I get that "banana republic" is often used to describe corrupt countries, but this overlooks the fact that much of the corruption was imposed by foreign powers, particularly the United Fruit Company with the backing of the U.S. government. These countries didn’t choose corruption; they were often forced into it through military intervention, economic pressure, and violence.
The United Fruit Company, with U.S. support, orchestrated coups (like in Guatemala in 1954), suppressed labor movements (e.g., the 1928 Banana Massacre in Colombia), and funded paramilitary groups. The so-called "corruption" was largely a result of foreign exploitation, not internal failings.
So, when you say "banana republic level corruption," you're actually talking about imperialist practices imposed by the U.S.—the very first-world country you’re wondering about.
The U.S. imperialism is what "banana republic" means!
> In 1904, American author O. Henry coined the term[1][2] to describe Guatemala and Honduras under economic exploitation by U.S. corporations, such as the United Fruit Company (now Chiquita).
"Banana republic" refers to governments that are captured by (foreign) corporate interests. In NYC, that's going to be the city government and army-sized police force (sometimes described as "occupying") operating mostly for the benefit of the financial, real estate, and (to a lesser extent) entertainment industries, all of which, I'd wager, involve foreign nationals at a higher rate than exist in the general population.
When the NYPD is harassing native New Yorkers so that investors from Israel, Europe, and China feel more comfortable (on both a personal and economic level), that feels quite "banana republic"-y to me.
I'm pretty certain this is an NYPD thing. Other PDs would have something similar too, but I don't think this is a pan-US thing. Of course, in certain places, you wouldn't even need a card, just let yourself be known as a cop's relative or a judge's kid.