Thursday night, the House passed the H.R. 4310 - National Defense Authorization Act (NDAA) for Fiscal Year 2013 Conference Report, by a bipartisan vote of 315-107.  The final bill included a number of provisions Congressman Bobby Schilling worked hard to include in this year's NDAA.  

Schilling is the only Illinois member of Congress on the House Armed Services Committee (HASC).  During his term he has fought for common-sense policies that promote public-private partnerships, create jobs and provide care and support to our warfighters and their families.

The NDAA authorizes $640.7 billion in funding for defense and national security priorities, provides a 1.7% pay increase to military personnel, and prevents Guantanamo Detainees from being moved to U.S. soil.  According to the Congressional Budget Office, this legislation would reduce the deficit by $52 billion over the next 10 years.

In May, with the support of Congressman Schilling, the House approved H.R. 4310.  The final bill approved yesterday includes a number of House provisions Schilling worked to include :

Language authored with Congressman Dave Loebsack (IA-02), also a member of HASC, to ensure the Department of Defense (DOD) recognizes the critical manufacturing work done at facilities like the Rock Island Arsenal (RIA)  in our overarching national security strategy, and reviews how to maintain those skills and therefore the people who do the work.  Schilling and Loebsack built on their historic, bipartisan work to strengthen the arsenal in last year's NDAA.

Language in Section 735 authored with Congressman Steve Stivers (OH-15) to better shape the policies and practices of TRICARE to efficiently and effectively account for the specific health care needs of children.  TRICARE is the military health care system covering 9.6 million, including military retirees, the children and families of active duty soldiers, and National Guard and Reservists.  As the program's reimbursement structure is based on Medicare, TRICARE often adopts policies and practices from Medicare that do not account for pediatric health care delivery and settings.  This Schilling and Stivers language will convene a working group to review and make recommendations for improving TRICARE policies and practices to account for children's needs, and work jointly with specialty providers of children's health care.

Language in Section 587 authored with Congressman Dan Lipinski (IL-03) to encourage cooperation between the DOD and universities to uncover the remains of American troops who died in action overseas. This bipartisan provision will help provide closure for families with lost loved ones, and will honor those who gave so much for our country.  Universities such as the University of Illinois are already working to reduce the backlog of cases that have been reported but not investigated or for which remains have been located but not recovered, but there is bureaucratic red tape that complicates coordinating efforts with the DOD.  This provision will help DOD be more cost effective and increase the speed at which we can bring our warfighters home from more friendly countries, allowing the DOD to focus on its recovery efforts in more dangerous areas of the world.

Language in Section 1641 authored with Congresswoman Judy Chu (CA-32), who serves with Schilling on the Small Business Committee, to reform small business contracting and make it easier for small contractors wishing to do business with the federal government.  Small businesses have proven that they can perform a service or produce goods for the government at a lower cost and often at a faster pace than their larger counterparts, but many challenges remain for businesspeople seeking to break through the bureaucracy.  This bipartisan provision allows the Small Business Administration to oversee civilian mentor-protégé programs (programs intended to partner small businesses with established mentors to improve the small business' ability to win contracts and subcontracts), facilitating inter-agency agreements, guaranteeing that programs benefit small businesses, and encouraging equal treatment among all small businesses, including those owned by women and minorities. 

The legislation includes a number of broader provisions as well, including:  

Provisions providing for the warfighter and military families: The NDAA seeks to provide our warfighters and their families with the care and support they need, deserve, and have earned.  It ensures that our military is robust, flexible, and capable.  The NDAA rejects Administration proposals to increase some TRICARE fees and establish new TRICARE fees; authorizes a 1.7 percent pay increase; and extends bonuses and special pay for our servicemen and women.  It also reflects a bipartisan effort actively supported by Schilling to provide new regulations and procedures to combat and prosecute sexual assault within the military.

Provisions to maintain and rebuild our military: The NDAA does not authorize additional rounds of Base Closure and Realignment Commission (BRAC) in either FY2013 or FY2015, as had been called for by the Department of Defense.  Schilling strongly opposed efforts to authorize a BRAC.  The bill includes and restores vital systems, platforms, and authorities to maintain America's combat power after a decade of war.

Provisions pertaining to detainees: The FY2012 NDAA reaffirmed U.S. authority to pursue terrorists who are part of or substantially support al Qaeda, the Taliban, or associated forces.  The FY2013 NDAA, though the incorporation of the Right to Habeas Corpus Act, makes clear beyond a shadow of a doubt that every American will have his day in court.  It also prohibits the transfer of Guantanamo Bay detainees to the United States.

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To send Congressman Schilling an e-mail, click here

(Duluth, MN) A nationwide clothing store for young women, known for trendy fashions that don't break the bank, announces plans to relocate the maurices store currently located at Northpark Mall, 320 W Kimberly Road in Davenport.

maurices' fashion attitude will appear in force when the new store opens in the Northpark Mall, Space 0058. The store will continue to be open for business while the new location is under construction. The new 5,190 square footage store will grand open planned for end of February 2013. Neil McPhail, SVP - Stores, adds, "We look for the best opportunity in each market. The new space we are moving into looked like the perfect opportunity to continue to reach maurices target customer and continued success of our business.

"We are very excited about opening a brand new store that will offer our customers an exciting new fresh décor and design that is easy and fun to shop," says Store Manager Sarah Troutwine.

maurices has been inspiring young women since 1931 and will continue to sell adorable, affordable fashions in sizes 1-24.

brands of Studio Y and Wear @ Work, plus some of the best-known brands in denim, including Silver®.

About maurices
maurices
, a brand of Ascena Retail Group, Inc. (NASDAQ - ASNA), is the leading hometown specialty store and authority for the savvy, fashion-conscious girl with a twenty-something attitude. Today, maurices operates over 833 stores in 46 states and Canada. maurices stands for fashion, quality, value and customer service. Offering sizes 1-24, our styles are inspired by the girl in everyone, in every size. For store information and to shop online, visit maurices.com.

Morthland calls HB5440: "ineffective and irresponsible"

 

MOLINE, IL...State Representative Rich Morthland (R-Cordova) pledges to vote against House Bill 5440, the proposed tax on satellite TV if the sponsors try to pass the measure during the upcoming Lame Duck session in January.

Representative Morthland calls the new 5% fee an "ill-contrived attempt to distract from the major issues facing our State." Morthland says that both his Springfield and Moline offices have been receiving many calls from constituents who are justifiably outraged at this new Springfield money grab.

"Here's another fee that will prove to be ineffective and irresponsible in our current economic condition. The budgets of hard working families and businesses are already stretched to their limits," said Rep. Morthland. "To make matters worse, this tax unfairly punishes rural residents and other downstate folks who only have access to the coverage that satellite television affords."

Proponents of HB5440 claim it will raise about $75 million, which would be used to bolster education funding. Rep. Morthland questions that revenue projection number, noting that an already struggling economy conflates projections and provides for decreasing tax revenues. Furthermore, Morthland claims that the tax is a thinly veiled attempt by Cable Television companies to unfairly hurt their competitors.

"Adding the tax to satellite TV bills would be like charging toll-way fees to airline passengers," said Morthland. "These customers are doing business miles and miles above the infrastructure that traditional Cable companies interact with. This tax is fundamentally unfair and misdirected"

HB 5440 passed the Senate on vote of 30-27. The bill is likely to be brought for a vote on the House floor during the upcoming January session.

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IA/IL QUAD-CITIES - "The Chick-fil-A Leadercast is about living a life of sincere leadership, in both your personal life and in the community. Last year, a record number of Quad-Citians attended QC Leadercast, and we hope to see even more in 2013. For anyone wishing to forge stronger leadership qualities, this is the perfect opportunity to learn from the world's greatest experts on the topic."

That quote comes from Todd Ashby, Managing Partner of Results Marketing. For the past three years, Results Marketing and select sponsors have been bringing simulcasts of the Chick-fil-A Leadercast to the Quad-Cities area. Leadercast is an annual leadership event broadcast live from Atlanta, Georgia, to audiences in metro areas worldwide.
A video selection of four speakers from the 2012 Leadercast will be presented at the 2013 Chick-fil-A Leadercast Recap Lunch & Learn events, sponsored by Results Marketing and St. Ambrose University. "These internationally known speakers will share exciting insights to energize your leadership skills," said Ashby. "Attendees can watch these enlightening videos and discuss their content with other area professionals. Each of the four sessions will be facilitated by a St. Ambrose faculty member and all attendees will enjoy a delicious Chick-fil-A lunch."
Only 65 seats are available at each Recap Lunch & Learn event, so be sure to register today. The events will be held noon to 1 p.m. on January 4, February 1, March 1, and April 5, at the St. Ambrose University Downtown Education Center, located in the New Ventures Center at 331 W. 3rd St., Davenport, IA 52801. Cost to attend is $15 per session and includes lunch from Chick-fil-A, or you can save by enrolling in all four events for only $45.

The following speakers will be featured at the Leadercast Re-Cap Lunch & Learn events:
January 4, 2013
John Maxwell is a renowned leadership expert, coach, and author, who has sold more than 20 million books. Every year, Dr. Maxwell speaks to Fortune 100 companies, international government leaders, and organizations such as the United States Military Academy at West Point, the National Football League, and the United Nations. His organizations have trained more than 5 million leaders in 153 countries.
Maxwell's books include The 21 Irrefutable Laws of Leadership, Developing the Leader Within You, The 21 Indispensable Qualities of a Leader, and many more.
February 1, 2013
Marcus Buckingham is a strength strategist, best-selling author, and researcher. His latest project, StandOut, is a book and strengths assessment combination, which uses a new research methodology to reveal your top two "Strength Roles." StandOut gives people practical innovations that fit their strengths, and provides managers with quick insights on how to get the best from each member of their team.
Buckingham's books include First, Break All the Rules; Now, Discover Your Strengths; The One Thing You Need to Know; Go Put Your Strengths to Work; The Truth About You; and Find Your Strongest Life.

March 1, 2013
Andy Stanley is an acclaimed leadership communicator, author, pastor, and the founder of North Point Ministries, Inc. Every month, well over a million people from nearly every country in the world choose to tune in, download, or stream Stanley's teaching content via TV, radio, podcasts, and live streaming.
Stanley's books include The Next Generation Leader, Visioneering, Enemies of the Heart, and The Principle of the Path.
April 5, 2013
Patrick Lencioni is a best-selling author and founder and president of The Table Group, Inc., a specialized management-consulting firm focused on organizational health. Lencioni's nine best-selling books have sold nearly 3 million copies,  and his work has also been featured in such publications such as BusinessWeek, Fast Company, INC Magazine, USA Today, Fortune, Drucker Foundation's Leader to Leader, and Harvard Business Review.
Lencioni's books include The Five Dysfunctions of a Team, The Three Signs of a Miserable Job, and Getting Naked.
"We will be hosting a new day-long Leadercast event in May 2013," Ashby said, "so anyone thinking of attending the Spring 2013 event may want to attend these Lunch & Learn sessions beforehand, to get a feel for the topics to be discussed. While Leadercast has a different theme each year, you can be sure that the presentations will be thought-provoking and inspiring."
To register for the Leadercast Re-Cap Lunch & Learn events or for more information, call Marcia Brandt of Results Marketing at 563-322-2065 or email Marcia@resultsimc.com. Feel free to befriend Leadercast Quad Cities on Facebook at www.facebook.com/qcleadercast.
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U.S. Army Corps of Engineers to begin work on blasting rock pinnacles threatening barge traffic 

EAST ALTON, Ill. - December 17, 2012. As work begins to blast away rock pinnacles posing a hazard to barge traffic on the Mississippi River, Lt. Governor Sheila Simon participated in a meeting today convened by U.S. Senator Dick Durbin (D-IL) between the U.S. Army Corps of Engineers, members of Illinois' Congressional Delegation and industry stakeholders to discuss the Corps' response to the Mississippi's near-record low water level. During the meeting, the Corps provided a briefing on their efforts - including removing the rock pinnacles between St. Louis and Cairo, Ill., and increasing dredging - to maintain water flow on the Mississippi.

"The Mississippi River is a vital economic tool that enables our farmers and companies to efficiently ship goods around the world. Transporting those goods on our roads or by rail will cost many times more than shipping them along the river, and many of our Illinois companies - who employ thousands of hard-working men and women - cannot afford those costs. I would like to thank Sen. Durbin for convening this panel of experts, and I look forward to working together to preserve this important economic engine," Simon said.

In addition to Simon, Durbin and the Army Corps of Engineers, the meeting was attended by U.S. Rep. Jerry Costello (D-IL-12) and representatives from stakeholder industries such as agriculture, shipping, coal and petroleum.  A complete list of meeting attendees is attached.

"We came together as users and stakeholders, industry and government interests, concerned about low water levels on the Mississippi and the effects it could have on the economy locally, regionally, and nationally," Durbin said. "I look forward to continuing to work together in a productive way to build on the successes we've had in the last few weeks to maintain navigation on the river."

Today, Army Corps contractors will begin demolishing rock pinnacles posing a hazard to barges along a fifteen-mile stretch of river near Thebes. Both contractors will use specialized "drill rig barges" to drill large holes into bedrock, insert blast material and remove the rock. Assistant Secretary Darcy agreed to expedite the blasting process, which is expected to last 30-45 days, following a meeting with Sen. Durbin and several other senators.                               

On Dec. 7, Lt. Governor Simon, chair of the Mississippi River Coordinating Council convened a meeting with officials from the Corps to discuss the impact the 2012 drought has had on water levels of the Mississippi and Missouri Rivers. The Lt. Governor also wrote to U.S. Army Assistant Secretary Jo-Ellen Darcy, urging federal officials to intervene to help preserve the river.

Water levels are already approaching 1989's record drought levels, and barges are currently required to carry lighter loads. Mississippi River commerce is estimated to be a $180 billion a year industry. If water levels drop below nine feet, barge traffic from St. Louis to Cairo, Ill. could be shut down. Trucks utilize more fuel than barges, and barges are able to carry a larger volume of goods than trains or trucks. According to the federal Government Accounting Office, the cost of trucking goods is nine times higher than the cost of transporting products by water.

In addition to blasting, the Corps is also planning to increase dredging along the river. Besides the dredging machine already in use, the Corps mobilized a second dredging machine last week and has identified other dredging ships which can be used, if necessary, to keep the river open to traffic.

The Mississippi River is a critical transportation artery for essential commodities like corn, grain and oilseeds, coal, petroleum and other products. The financial impact of a river shutdown could be far reaching. This summer's historic drought has caused the Mississippi's water level to fall to historic lows, threatening navigation of the river. Recent rainfall and weather forecasts have improved the Mississippi's outlook, though the water level could still fall to a record low as soon as Dec. 26.

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U.S. Army Corps of Engineers Plans to Start Blasting Rock Pinnacles at Thebes; Coast Guard is Preparing Navigation Plan

CHICAGO - December 16, 2012 - Governor Pat Quinn today hailed the quick action by the U.S. Army Corps of Engineers to begin the removal of rock pinnacles near Thebes, south of Cape Girardeau, that pose a threat to barge traffic on the Mississippi River. The move comes following Governor Quinn's request last month as concerns mounted about the low levels of water on the Mississippi due to the 2012 drought. The governor also praised the leadership of Senator Dick Durbin who helped marshal federal resources to keep the waterway open.

"Keeping the Mississippi River open to commercial traffic is critically important for the economy of the state of Illinois and the entire upper Midwest," Governor Quinn said. "On behalf of the many Illinois businesses and residents who rely on the Mississippi, I want to thank the Army Corps of Engineers and Senator Durbin for their strong partnership throughout this process. We will continue taking every step necessary to help people and businesses across the state through this unprecedented drought."

The Corps has indicated that two contractors are scheduled to begin removal of the rock pinnacles at Thebes as soon as this week. The contractors started moving equipment to the area last week. On Friday, the Corps held a pre-construction meeting with the contractors to finalize plans for rock blasting and removal, as well as development of a navigation impact schedule.

In response to a November 14 letter from Governor Quinn that raised related concerns about river navigation, the U.S. Coast Guard is developing plans to manage the flow of barge traffic during the rock removal period. The Coast Guard is establishing a mobile command post to provide on-site monitoring and assistance of barge traffic control issues.

The Corps and the Coast Guard estimated that the lowest river levels should occur near December 26th, when the river is expected to hit a record low level in the mid-Mississippi River region. After the Corps removes the rock pinnacles at Thebes and the Grand Tower area, they will continue with dredging activities intended to support safe and navigable channels as much as possible.

As the Mississippi River levels have been dropping, Governor Quinn has taken quick action to bring together stakeholders and ensure that necessary steps are taken to preserve its economic vitality. The Quinn administration has been meeting regularly with representatives from the agricultural, transportation and energy industries, as well as working with the federal government to take every step necessary to maintain navigation on the Mississippi River. Governor Quinn has also ordered a number of Illinois state agencies - including the departments of Agriculture, Commerce and Economic Opportunity, Natural Resources and Transportation - to stand ready to assist the effort in any way possible.

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EAST ALTON - Lt. Governor Sheila Simon will join Senator Dick Durbin, the U.S. Army Corps of Engineers, business officials and local stakeholders to discuss the Corps' response to low water levels in the Mississippi River. The Army Corps will brief attendees on the Corps' efforts to keep commerce flowing on the river.
"The Mississippi River is a vital economic resource, allowing goods to be transported around the country. I look forward to hearing from federal officials and stakeholders on efforts to keep barge traffic moving and sustain the economy dependent on river commerce," Simon said.
Simon, chair of the state's Mississippi River Coordinating Council, has urged the Army Corps to take necessary steps to prevent the RIVER'S shutdown. According to the American Waterways Operators, a national trade association representing tugboat, towboat and barge owners and operators, a potential closure preventing barges from transporting goods would jeopardize $7 billion in products during December and January alone.
DATE: Monday, Dec. 17
TIME:   8:30-9:30 a.m. meeting (closed to press; b-roll opportunity during final five minutes);
9:45 a.m. press conference
PLACE: Jerry F. Costello Confluence Field Station at the National Great Rivers Research & Education Center, 1 Confluence Way, East Alton
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by Jerome R. Corsi, a Harvard Ph.D., is a WND senior staff reporter. He has authored many books, including No. 1 N.Y. Times best-sellers "The Obama Nation" and "Unfit for Command." Corsi's latest book is "Where's the REAL Birth Certificate?"

NEW YORK - In the wake of the $1.92 billion settlement HSBC reached with the Justice Department, banking experts and customers in India and London have joined U.S. whistleblower John Cruz in demanding criminal prosecution of top HSBC officers and directors globally.

Evidence suggests HSBC has pursued a policy of exploiting and defrauding customers in the developing world to supplement illegal profits obtained in the developed world by working money launderers, terrorists, organized criminals, corrupt public officials and others, as charged by the Senate Permanent Subcommittee on Investigations in a staff report issued at a public hearing July 17.

As WND reported Tuesday, Cruz, who exposed HSBC's money laundering in February in a series of WND stories, called the $1.92 billion fine the U.S. government imposed on HSBC "a joke" and filed a $10 million lawsuit for "retaliation and wrongful termination."

Significantly, the HSBC settlement with the Justice Department announced Tuesday allows all bank officers and directors who may have been aware of or participated in the alleged criminal banking activities to be free of criminal investigation and prosecution in exchange for HSBC agreeing to pay the $1.92 billion fine.

Whistleblowers in India and London are joining Cruz in charging the HSBC settlement amounts to a massive "cover up." Avoiding criminal investigation and prosecution, they say, allows not only HSBC bank officers and directors to avoid further public scrutiny but also any government officials who may have turned a blind eye to HSBC improprieties.

Cruz has insisted to WND that it is impossible to believe HSBC laundered billions of dollars in Mexican drug cartel money, worked with terrorists through affiliate banking operations in Saudi Arabia and circumvented Obama administration banking sanctions against Iran - all activities specifically charged by the Senate Permanent Subcommittee on Investigations - without the knowledge and perhaps complicity of U.S. government officials in the U.S. Treasury, the Federal Reserve, the CIA and the NSA in an era in which government officials are capable of reading the emails of ordinary citizens.

With the HSBC settlement announced this week, any criminal investigations under way are officially brought to a halt.

In response to WND's reporting earlier this year of Cruz's evidence, HSBC lodged a complaint that blocked Internet access to one of the WND stories, and senior reporter Jerome Corsi was fired by the New York City investment firm he had worked with for two years as a senior managing director, Gilford Securities.

In June, WND reported evidence Eric Holder's Justice Department has not investigated money-laundering charges in deference to bank clients of his Washington-based law firm, where Holder was a partner prior to joining the Obama administration.

WND reported in October HSBC was engaged in a systematic scheme to defraud citizens of India who live abroad out of billion of dollars in investment accounts, according to an Indian source who provided evidence.

'Demon bank'

In emails to WND, Indian journalist Ajit Ujjainkar has charged HSBC with operating as "an illegal and corrupt" bank that he characterizes as "a demon bank."

Writing in the December 2012 issue of gfiles Magazine, published in India, Ujjainkar charged "the reported money-laundering and terror financing operations run by HSBC bank pose a threat to the safety and integrity of not only the banking industry (in India) but to the security of the country itself."

Ujjainkar further alleges that operating in developing countries like India, HSBC has found profits from laundering money can further be supplemented through various banking schemes aimed at defrauding bank retail customers.

Ujjainkar gave as an example the case of a customer named Ravi Shankhar (not the legendary sitar player who died Tuesday).

"HSBC issued Ravi Shankhar a credit card he neither applied for nor received," he explained to WND. "This did not stop HSBC from asking Shankhar to pay fees for the card and, when Shankhar refused to pay, from selling his name to debt collectors who destroyed Shankhar's credit and blocked him from getting a home loan, even though Shankhar objected he knew nothing about the HSBC credit card."

Shankhar, along with hundreds of other HSBC customers, posted on a website in India set up for complaints against HSBC. The customers found that HSBC banking policies in India are made by management in London. But when Indian customers present formal complaints to London, the London management refuses to solve the problem, choosing instead to respond with form letters.

"Someone has applied (for a) credit card in 2007 on behalf of my pan card copy," Shankhar wrote in a May 16 posting on the site. "And HSBC has issued that card. All mandatory personal detail/information (mother's name, address, etc.) are not matched, except my date of birth. This is a really big blunder fault of HSBC Bank LTD. I have never applied this credit card as well as never seen this card and used this card."

Shankhar continued to explain he applied for a home loan and got a call from his banker, who said that a huge sum had been charged against the credit card and a default statement had been published regarding his account on CIBIL, the Credit Information Bureau Limited, based in India.

Shankhar threatened to sue the bank and make his case public with the media if HSBC did not remove the adverse information from the CIBIL website within two days.

Ujjainkar told WND this particular form of credit card fraud is particularly detrimental to customers in India, a country where a blemish on a person's credit history might block him from ever obtaining credit in the future.

"There is a deep malice in the way the bank operates in India," Ujjainkar claimed.

Ujjainkar said the Department of Justice decision not to prosecute HSBC officers and directors sends an unfortunate message to international bankers around the world.

"Shareholders and customers around the world should demand justice instead of being blinded by the dollar sign," he insisted. "All the U.S. settlement with HSBC accomplished is to send a signal to bankers around the world that crime does pay."

WND previously reported on a scheme in which HSBC allegedly defrauded non-resident Indian customers who were asked to sign open-ended powers of attorney giving HSBC officers in India complete discretionary authority to invest the customers' funds in the Indian stock market.

'Where is the justice?'

London-based HSBC shareholder activist Michael Mason-Mahon shares Ujjainkar's frustration after being stymied by HSBC bank officers in London in hundreds of cases, including that of Ravi Shankar. Since early 2010 he has tried to address grievances and banking irregularities claimed by HSBC customers in India.

"I have found that The Hong Kong and Shanghai Banking Corporation Limited in London has been abusing customers by the illegal use of CIBIL, refusing to register complaints, threatening customers and demanding money illegally," Mason-Mahon wrote WND in an email.

He said HSBC "has breached all the rules and regulations of the Reserve Bank of India, the Standard Board of India, as well as the Code of Commitment to Customers."

Mason-Mahon, who has charged that Chairman Douglas Flint and the board of directors of HSBC Holdings PLC in London are "fully aware of the criminal behavior of HSBC in India," is also extremely upset that no criminal prosecutions were pursued by the U.S. Justice Department.

The settlement came after an extensive investigation of HSBC by the Senate Permanent Subcommittee on Investigations.

"Where is the justice in the $1.92 billion fine the U.S. government charged HSBC?" he asked WND. "This is just shareholders' money to a man like Douglas Flint, the chairman of HSBC Holdings in London. Why not suspend the bank's license to operate in the United States for a year or two?"

Mason-Mahon told WND he had supplied attorneys with Democratic Sen. Carl Levin's committee with information about alleged criminal behavior by HSBC in India, although no reference to his allegations can be found in the 334-page staff report issued by the committee at its public hearing July 17.

"Sen. Levin's subcommittee seems completely unaware that HSBC merely factored in to its international business plan the $2 billion fine the U.S. government imposed on the bank," he said. "To HSBC internationally, even a fine of this magnitude was simply considered the cost of doing business when the bank had no intention of complying with rules and regulations."

Negligible fine

Cruz and WND handed over to Department of Homeland Security bank-fraud experts 1,000 pages of customer accounts documenting alleged money laundering activity. Along with the records copied from HSBC computers before he was fired, Cruz made audio recordings of more than a dozen HSBC bank officers admitting their knowledge and participation in the money laundering scheme.

In emails and interviews with WND, Cruz disputes the statement Tuesday made by Sen. Levin that the HSBC settlement "sends a powerful wake-up call to multinational banks about the consequences of disregarding their anti-money laundering obligations."

Cruz told WND that HSBC "reserved $2 billion to pay these fines years ago."

He argued that a fine even of that magnitude was negligible, compared to the profits HSBC made laundering money for drug cartels and terrorist groups and violating U.S. sanctions against doing business with Iran.

Levin's subcommittee has evidence supporting Cruz's claim.

On page 2 of the July 17 report, the Senate Permanent Investigating Subcommittee's staff noted HSBC is "one of the largest financial institutions in the world, with over $2.5 trillion in assets, 89 million customers, 300,000 employees, and 2011 profits of nearly $22 billion."

"Kids Don't Have Lobbyists: Part I" is Latest Installment of Thanks in Advance Campaign

 

CHICAGO - December 11, 2012. The impact of the pension squeeze on future generations of Illinois children is the focus of a new video posted today as part of Governor Quinn's "Thanks in Advance" Internet campaign to educate Illinoisans about the urgent need for pension reform. A two-part video - "Kids Don't Have Lobbyists: Part I" - goes behind-the-scenes at a children's focus group about breakfast cereal which turns into a serious discussion of pension reform. As the gravity of the pension problem becomes clear and the kids realize their voices are not always heard, they decide to hire a lobbyist.

View the first part of the "Kids Don't Have Lobbyists" video at ThisIsMyIllinois.com or the "Thanks in Advance" Facebook page.

"Nobody has more at stake in fixing the pension problem than the children of Illinois," Governor Quinn said. "In the past decade, the pension squeeze has forced lawmakers to make deep cuts in early childhood education, after-school programs and grants for college-bound students. Tomorrow's children face a difficult future unless we act responsibly to ease the pension squeeze."

According to the Governor's Office of Management and Budget, state spending on public pensions is projected to exceed education spending by 2016. The state's pension payments - which made up just 6 percent of the state's budget in 2008 - have soared to 16 percent of the budget in 2013. That increase has "squeezed" the education portion of the budget from 30 percent down to 26 percent. The "squeeze" by pension payments on essential state services is the focus of "Thanks in Advance," which has attracted more than 30,000 unique visitors since its launch to the website.

The "Kids Don't Have Lobbyists: Part I" video joins three videos on the "Thanks in Advance" website, including one launch video and two videos by legendary "explainer" and founder of the Khan Academy, Salman Khan. Khan was named by Time Magazine as one of the World's 100 Most Influential People for his commitment to offering a "world class education for everyone everywhere". Part II will be launched in the coming days.

In April, Governor Quinn proposed a plan that would rescue the pension systems, ensure employees have access to benefits and prevent skyrocketing pension costs from eating up core services like education and healthcare. The governor's plan would fully fund the pension system by 2042. "Thanks in Advance" aims to build public awareness about the need for legislative action on pension reform in Springfield and empower citizens to make their voices heard. The legislature is scheduled to work January 3 - 8.

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