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The Morning Grumpy – 7/18/12

18 Jul

All the news, views, and filtered excellence fit to consume during your morning grumpy.

 

1. You might have missed this story about HSBC Bank, but it’s a doozy.

The head of compliance at Europe’s largest bank resigned from his position and apologized Tuesday after a Senate investigation found HSBC had lax controls that exposed it to money laundering and terrorist financing.

The panel released a report Monday that found the bank’s poor oversight of its operations allowed Mexican drug cartels to launder billions of dollars through its U.S. division.

HSBC bank affiliates also skirted U.S. government bans against financial transactions with Iran and other countries, according to the report. And HSBC’s U.S. division provided money and banking services to some banks in Saudi Arabia and Bangladesh believed to have helped fund al-Qaida and other terrorist groups, the report said.

This could be the most poorly run bank in the world, I guess they had to make up for that disastrous purchase of Household Financial somehow…

2. This political ad from PrioritiesUSAaction is a knockout punch. If this is the message, Mitt Romney should be running scared.

This ad is running in very heavy rotation in Ohio, Michigan, Pennsylvania, and Indiana.

3. In 29 states, it’s legal to fire someone for being gay.

4. Why is Mitt Romney so afraid to release his tax returns? His “magical IRA” might have something to do with it.

The most mysterious of the unexplained mysteries about Mitt Romney’s considerable wealth is how he was able to amass between $21 million and $102 million in his individual retirement account during the 15 years he was at Bain Capital LLC.

How did he do it, given the relatively small amounts that the law permits to be contributed to such a plan on an annual basis? Romney has not explained this conundrum, and seeing as he wants to become president, he would be wise to start talking — if for no other reason than there might be many Americans who would like to emulate what he did.

There are several theories about how Romney’s gain of 227 times his alleged original investment was realized. Some ethical, some not so ethical, and some potentially illegal. If you’re running for President, you should be required to put this information on the table for the public to examine.

5. This is Rachel Maddow at her exhaustive best. Why is Sheldon Adelson willing to spend a “limitless” amount of money to remove President Obama from office? Well, it might have something to do with investigations by the Obama Justice Department as to whether or not his company violated the Foreign Corrupt Practices Act.

Visit NBCNews.com for breaking news, world news, and news about the economy

Billionaires underwriting elections to avoid prosecution. GOP 2012!

Fact Of The Day: 2,046 U.S. soldiers have died in Afghanistan since 2001.

Quote Of The Day: Difficulty is the excuse history never accepts -Edward R. Murrow

Video Of The Day: The Evolution of Empathy. A profound presentation by Jeremy Rifkin.

Song Of The Day:  He was a good ol’ boy, born in some sweaty spot on a map in East Texas. He had a crooked smile and a slow drawl, but a quick mind. I was just a stupid kid from Buffalo, a few months into my military service with a lot to learn. He became my mentor and taught me about being a man and a patriot.

He’d invite me out to his tiny sweatbox of a cabin on Lake Bistineau and we’d sit on the dock, cast a few lines, crack a few Abitas, tell some lies, and just soak in the moment while the Cypress trees swayed behind us in the light breeze.  He was the kind of friend who you don’t just remember fondly, he was the kind who changes you forever. Three years ago yesterday, he was killed while on a security patrol outside of Kandahar, Afghanistan. He left behind a wife, three kids, and hundreds of stupid young soldiers and airmen that he turned into men. This was his favorite song. I still miss you, D. Thank you for helping me be me.

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