mr. gallagher. mr. lok. >> good morning. chairman levin, ranking member coburn and members of the subcommittee, i appreciate the opportunity to be here today. my name is christopher lok, and from 2001 until 2010 i served as the global head of the span of business at hsbc. in my statement today, i will cover three topics. first, i will provide my background. second, i will provide an overview of the business at hsbc. and third, i will address some of the specific problems and issues that i believe the subcommittee is interested in. for me it is painful and embarrassing to talk about the areas where in hindsight we fell short. at the same time, it is valuable to do so in order to find constructive solutions so that others don't make the same mistakes going forward. i was born and raised in hong kong. in 1981 i started working in -- [inaudible] of business, and that is what i did for 29 years. during the entire time from 1981 through 2010, i worked for hsbc or a predecessor institution. for most of my career, i was based in asi

mr. gallagher. incoming!!! it's wasteful. you know jimmy.olks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico 15 minutes could save you 15% or more. >> we continue with a labor of local war hero. a soldier is about to get around home much more easily. of speciallyhs designed her renovation. they have moved into their new home. very excited. it is perfect. what's the former army captain life-threatening hitry in 2007 when a bullet him above his left ear. he suffers from epilepsy but has made an impressive recovery. can walk although he wears a brace. since april a nonprofit called rebuilding together has worked with heroes at home to build a that is safe and meets all his needs. what we want to help out in any -- possible to make they installed an elevator. >> i can have my groceries and go upstairs. >> the master bathroom as 100% accessible. >> there is a bench that folds down. is a -- a rocking back is fixed and have railings on the left side

mr. gallagher. incoming!!! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. >> thunderstorms also with a friend coming through. at least the heat will break for a day on wednesday. we going to the weekend with a couple of thunderstorms, then hopefully, things will start to settle down. the dog days are almost over. >> that is all for the news tonight. we will see you back here tomorrow. >> announcer: it's "the tonight show with jay leno," featuring rickey minor and "the tonight show" band. tonight, jay welcomes -- vince vaughn, extreme athlete

mr. gallagher. incoming!!! it's wasteful. you know jimmy.olks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. ♪ [ acou[ barks ]ar: slow ] ♪ [ upbeat ] [ barks ] beneful playful life is made with energy-packed wholesome grains... and real beef and egg. to help you put more play in your day. >>> one of the most depressing aspects of this rampage is just how familiar it is to the american experience. we've seen it so many times t body counts, the search for mote it gun control debate. the numbers may be different this time, 12 dead, four guns, 6,000 rounds of ammunition he purchased online. in order to put this into a national context, here are some other numbers to consider. >> in america, over a dozen guns are legally sold every minute of every day. there are almost 300 million privately owned firearms in this country, almost enough to arm every man, woman, and child. but while there is a gun in four out

mr. gallagher. incoming!!! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. >>> this is wjz tv, wjz hd, and wjz.com, baltimore. >> from the city to the counties to your neighborhood, now it's complete coverage. it's wjz, maryland's news station. >>> under water. >> everything is flooded. and cars, you know, the water's coming up past their tires. >> fast-moving storms flood parts of baltimore. >> the damage and the new round of storms moving through. >>> hello, everyone. >> here's what people are talking about. >> two rounds of storms hit maryland hard bringing down trees and flooding major sections of downtown baltimore. we have a live report on this heavy flooding. let's go to bob tracking these storms. >> first round between 6-8:00 p.m. caused flooding. the second round, flood warnings for much of the region. this stuff moving in from the west. since about 9-10:00 p.m., some areas have picked up 1-2 inch

mr. gallagher. incoming!!! it's wasteful. you know jimmy. who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. friends, donors, campaign supporters, special interest groups where did the obama stimulus money go? solyndra: 500 million taxpayer dollars. bankrupt. so where did the obama stimus money go? windmills from china. electric cars from finland 79% of the 2.1 billion in stimulus grants awarded through it went to overseas companies. [ romney ] i'm mitt romney and i approve this message. >>> a fling between a starlet and her director is not exactly a new concept in hollywood, but today, kristen stewart, half of the "twilight" saga's real life couple, shocked her fans when she issued a public apology for quote, indiscretions, with a man who is not her famous boyfriend. here's abc's david wright. >> reporter: right now, actor and teen heart throb robert pattinson might be wishing his character hadn't bothered

mr. gallagher. incoming!!! it's wasteful. u know jimmy.hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could sav you 15% or more.

mr. gallagher. incoming!!! it's wasteful. you know jimmy.olks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. ♪ [ acou[ barks ]ar: slow ] ♪ [ upbeat ] [ barks ] beneful playful life is made with energy-packed wholesome grains... and real beef and egg. to help you put more play in your day. friends, donors, campaign supporters, special interest groups where did the obama stimulus money go? lysolyndra: 500 million taxpayer dollars. bankrupt. so where did the obama stimustlus money go? windmills from china. electric cars from finland 79% of the 2.1 billion in stimulus grants awarded through it went to overseas companies. [ romney ] i'm mitt romney and i approve this messagee. >>> one of the most depressing aspects of this rampage is just how familiar it is to the american experience. we've seen it so many times t body counts, the search for mote it gun control debate. the numbers may be different this time,

mr. gallagher. incoming!!! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. throughout our entire lives. ♪ one a day women's 50+ is a complete multi-vitamin designed for women's health concerns as we age. ♪ it has more of seven antioxidants to support cell health. that's one a day women's 50+ healthy advantage. ...more talk on social security... ...but washington isn't talking to the american people. [ female announcer ] when it comes to the future of medicare and social security, you've earned the right to know. ♪ ...so what does it mean for you and your family? [ female announcer ] you've earned the facts. ♪ washington may not like straight talk, but i do. [ female announcer ] and you've earned a say. get the facts and make your voice heard on medicare and social security at earnedasay.org. trick question. i love everything about this country! including prilosec otc.

mr. gallagher. incoming!!! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. >> now supports with gerry sandusky. >> of bashar recovered from his first mistake. he joined his teammates for the start of training this afternoon. a much smaller group of players then we will see later when all of the veterans report for the fifth training camp. the quarterback saw the rookies coming off of injuries. the second round draft pick kelechi oswmele did not practice because of a strained calf muscle but they expect him to start practicing tomorrow or thursday. the rest of the veterans report tomorrow. they will have a team practice thursday afternoon and john expects to see ed reed on the field as planned. >> ed reed plans on being here. i talked with him and had a great conversation. i am looking forward to seeing him. >> today and tomorrow, rookies have one last chance that the

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. . >>> do we have us a baseball team or what? >> we have to take note. it's the last sportscast in a while without the redskins. >> someone write this down. >> gio gonzalez went from one of the worst outings in a nats' uniform to his best. last time he was tagged for 3 1/3 and tonight he gets his revenge. in the second inning he gets ike davis to go down swinging. he give up two hits and no earned runs. top six, adam laroche launches this one deep. and the upper deck. a two-run shot his 17th of the year. 3-1 nats. two on for jesus flores. jason bay's throw is off the mark. nats take advantage of a four-run sixth inning, winning by the count of 5-2. we get our fill of the orioles at camden yards. hosting tampa. adam jones, where did he go? in the fourth crushes this to center. his 23nd hom

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy.olks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> no price the ncaa can levy will repair the grievous damage inflicted by square arery sandusky on his -- by jerry sandusky on his victims, however, we can make clear that the culture, actions and inactions that allowed them to be victimized will not be tolerated in collegiate athletics. >> that was the president of the national collegiate athletic association announcing sanctions on the penn state football program in the wake of the jerry sandusky scandal. they were hit with a four year post season ban and $60 million fine. effectively stripping the late joe paterno as his title as the all-time winningest coach in college football. you disagreed with week with the ncaa action. why? >> i don't have a problem with punishment of penn state but looking to the ncaa is like looking

mr. gallagher. incoming!!! it's wasteful. you know jimmy.ho save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. you know what i love about this country? trick question. i love everything about this country! including prilosec otc. you know one pill each morning treats your frequent heartburn so you can enjoy all this great land of ours has to offer like demolition derbies. and drive thru weddings. so if you're one of those people who gets heartburn and then treats day after day block the acid with prilosec otc and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. >>> the chicago west cider charged with reckless homicide in the hit and run death of a cook county police officer. >> it's the culmination of years of bad driving including dui. >> juan bellow charged with reckless homicide and leaving the scene of a fatal accident in the wednesday night death o

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. . >>> one of the country's most respected black burpallists were laid to rest today. they were held at the national cathedral in northwest. he was a columnist for the "washington post." his career began in 1962. he covered the riots in los angeles and won a pulitzer prize and died of prostate cancer this month at his tc home. >>> remember in tight -- night, the olympic games said to open in london. the international olympic committee is refusing calls to honor the israeli athletes killed four years ago. today, members of congress held their own moment of silence at the u.s. capitol. john henrehan tells us that it was part of a larger effort to push for similar remembrances tomorrow night. >> reporter: the death toll at the 1972 olympics grow to 11 israel athletes and coaches an

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy.ve hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. there's the sign to the bullpen. here he comes. you wouldn't want your doctor doing your job, the pitch! whoa! so why are you doing his? only your doctor can determine if your persistent heartburn is actually something more serious like acid reflux disease. over time, stomach acid can damage the lining of your esophagus. for many, prescription nexium not only provides 24-hour heartburn relief, but can also help heal acid-related erosions in the lining of your esophagus. talk to your doctor about the risk for osteoporosis-related bone fractures and low magnesium levels with long-term use of nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. let your doctor do his job. and you do yours. ask if nexium is right for you

mr. gallagher. incoming!!! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. >> now traffic pulse 11 and insta-weather plus together. >> here's an update on your morning commute. we had a problem on the west side at wilkins avenue. they have cleaned up the vehicle fire. at eastern boulevard, you may still find some delays. light street is shutdown between baltimore and lombard. we're not tracking any significant delays at the moment. here's a quick live look at traffic. this is wilkins avenue. we had a vehicle fire. all lanes are getting by. starting to see some delays fall into place just past 70 down towards wilkins avenue. this is 95 southbound at 32 and building down towards the capital beltway. that is the latest on traffic pulse 11. tony has a check of your forecast. >> just a few clouds to start the day. some scattered thunderstorms are likely. 75 at the airport.

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. >> "modern family" fans can breathe a sigh of relief now that the contracts have been renewed. the contract dispute has been resolved out of court and athletes -- the actors will receive $175,000. filming for the fourth season begins on monday. >> happen they survive on that? a new documentary about a florida family is getting a lot of attention. >> arch campbell joins us with a look. >> it is just one of those things where lightning struck and a filmmaker was following this family and they were up and down. what a piece of work. it follows the spectacular rise and fall of the spiegel family who were on the brink of bankruptcy as cameras watched. >> that is not my room, that is my closet. >> jacki earns the title queen of course iverssailes. they live more like the beverly hill

mr. gallagher. incoming!!! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico.. 15 minutes could save you 15% or more. >> 6:16 right now. we want to get back to our breaking news in the denver area. >> a shooting in aurora colorado just a few minutes after the start of "batman: the dark knight rises." >> we are getting new information. abc news is reporting that the suspect is 24 years old and was wearing a mask and a bulletproof vest inside the theater. one suspect is in custody and is believed to be acting by himself. the handgun or rifle was found with this individual, with the suspect. a third weapon was also found. authorities are not say what that was at this point. we understand that there was some sort of gas or canister released before the gunfire erupted. the latest number being 14 people confirmed dead and 50 people injured in this devastating shooting inside the premiere at the movie theater. we ar

mr. gallagher, with this piece of business. people in this bank, this global bank were being asked to fudge the nature of the payments to avoid the u.s. embargo and seizure. um, and it's pretty shocking stuff. um, now, from 2003 to -- 2002 and 2003, um, hsbc affiliates continued to send thousands of these undisclosed iranian transactions through hbus. exhibit 1c is a chart that shows the numbers. so even though the hsbc group was on notice as early as 2001 that hsbc affiliates were sending these hidden iranian transactions through their accountses in the u.s., nobody did anything to stop it for years. mr. bagley, in 2003 you had recently become head of compliance for the entire hsbc group. um, earlier that month the middle east affiliate, hbme, sent hbus a memo laying out the business case for it to process iranian transactions. why were they processing them? because there was a substantial income opportunity, and here's what you wrote in 2003, exhibit 45: the business case includes a number of express references to practices w

mr. gallagher. incoming!!! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. >>> coverage continues with gee gee barnett and meteorologist jim williams. it's wjz, maryland's news station. >> welcome back to eyewitness news sunday morning, it's 8:30. i'm gee gee barnett. >> on this sunday morning, 69 degrees for the high today. we're starting out today at 69 degrees. oh we just dropped to 68. most of the area in the upper 60s to low 70s. trying to get some sunshine in here. a few peaks. we saw drizzle and fog out this morning. this afternoon 81 for our high. tomorrow we're back in the 90s. if you like the summertime weather, be patient. we have your forecast coming up. >> here's what people are talking about this morning. it is a day of grieving in colorado. president obama is on his way to aurora to meet with victims of heart broken family members. we report for aurora. >> reporter: president obama will be h

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy.reds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at aafarmers' marke get happy. get g gco. fifteen minutes could save you fifteen percent or more. >> tensions between police and residents in dallas nearly reached a boiling point after a deadly officer involved shooting. >> residents confronted officers after a 31-year-old james haper was shot and killed yesterday afternoon. police went to a house after receiving a call someone had been tied up and dragged inside. an officer started chasing the man who was seen fleeing from the home. officers shot him because the officer feared for his life. >> you cannot tell his mother nothing of what happened. >> harper had no weapons and the call that led to the shooting was fake, state police. the man also did have a long criminal history. in california, anger over an officer involved shooting led to protests outside city hall, delaying a city council meeting. police responded by firing beanbags and pepper

mr. gallagher then mr. login then we will turn to questions. mr. bagley, please proceed. >> thank you pittard could morning german 11, dr. colburn and members of the subcommittee. my name is david bagley. thank you for the opportunity to be here today. i have submitted written testimony but in the interest of time, i have can't find my remarks to a few points. since 2002 i've been the head of the group compliance said that global parent of hsbc. having been for 30 years in the banking that operates approximately 80 to the sections worldwide, i have dedicated my career not only within each spc but through by broad industry work as well to meeting the significant challenges that confront the global banking institutions in the world that we live. i followed the work of the subcommittee and have seen how your work has advanced important dialogues and how the international banking community including hsbc identifies and addresses the potential vulnerabilities. my chief focus is the head of the group compliance at hsbc has been promoting the values that

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. welcome back everybody. a special group of friends are leading missions to helping the homeless vet rans get back on their feet. the program could be coming to a city near you. here's more. >> hey, there, uma. gigo fund is a caritable group started by two brothers and a friend who lost a buddy while serving in iraq. and now volunteers help homeless veterans get back on their feet. >> it was 1966 now. >> homeless for a decade. >> gene son son served on a gun ship in the vietnam war. >> i was honored in the service and had a lot of respect and came home people turned their backs on me because i was in vietnam. >> it is homeless gets the gigo fund will help with the midnight mission. >> we are getting them off of the streets and helping them before they die. >> volunteers offer a bag of food and clothing to anyone if they are a

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. >>> at 6:23 flash mob robberies. we're getting a look at a large mob that swarmed a 711. this crime trend is growing and it's dangerous. >> may 23rd this 711 cameras record as groups of teens walk to the become of the store sfr a free slurpie give away but soon the cameras capture them as dozens begin to steal and pocket items. employees block the door to stop them from leaving. >> the kids physically struggle to get it and hit the store manager who swings back. many kids dash out the door. witnesses saw it all. >> they started hitting that guy. he couldn't keep getting beat on. he let them out and they just ran. >> after reviewing this video, the baltimore city state's attorney office opted not to pursue criminal charges. >> what happened here is not an isolated incident. it's happening more and more across maryland. >> a similar i

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico.

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. excuse us, while we change into something more comfortable. cool. introducing, the square sunnyd bottle. >> this is "good morning washington," on your side. >> tuesday morning. president obama may be a descendant of one of the first documented african slaves in the united states. genealogists say they established a connection between the president and john punch. this indentured servant in early colonial virginia is believed to have had children with a white woman. a campaign aide for former republican presidential kenneth michelle bachmann has sued her. the person claims the campaign chairman stole a client e-mail list from her computer and used it to promote michelle bachmann's candidacy. a new bill would place sanctions on iran and the house could vote on it as soon as tomor

mr. gallagher. incoming!!! it's wasteful. you know jimmy.e hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. >>> don't miss the cbs line up. hawaii five-o followed by the news at 10:00. >> that's it for us. i'm vic carter. >> and i'm denise koch. thank you for watching wjz news. don't go away there's much more ahead on the cbs evening news with scott pelley. including of course the colorado shooting suspect makes his first appearance in court. tonight new details as police detectives try to determine a motive. also the >> pelley: tonight, the colorado massacre suspect in court james holmes appeared dazeened and was prevented from speaking by his barry petersen was in the courtroom, john miller is on the investigation. penn state is hit with crippling penalties and joe paterno is wiped out of the record books armen keteyian on the fallout from the child sex abuse scandal. >> sports themselves can become too big to fail. in the penn state case the results

mr. gallagher. incoming!!! it's wasteful. you know jimmy.ks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. i'm barack obama and i approve this message. [romney singing]: oh beautiful, for spacious skies, for amber waves of grain, for purple mountains majesty, above the fruited plain, america, america, god shed his grace on thee, and crowned thy good, with brotherhooood... >> abc news has confirmed 10 people killed and 20 others injured in the mass shooting of the century 16 theater during the midnight showing of "the dark knight rises" movie. >> it is still an active scene going on in colorado. we will continue to follow this through the morning. we are now learning 10 people were killed. about 20 other s injured. those numbers could increase. this all happening at the century 16 deer during the midnight showing of "the dark knight rises." abc news also confirmed there was some sort of explosive that we

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy.lks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> i always love this part of the morning because this is the time where finally we are not just seeing a dark sky and we are starting to seat sun come up. >> see a couple of clouds out there. >> it always looks pretty when it is this time of the day and before things get started. >> beautiful time of day. >> it really is. unfortunately though, it will be a little humid again today. >> it will be humid. i don't think it will feel quite as bad as yesterday. cooler and drier air on the way. >> i like the idea of a breeze. >> a nice breeze too. >> i nice breeze come something. >> i love that. >> and then the other shoe drops. >> don't talk about that. >> i'll keep my mouth closed. >> summer breeze. >> make me feel fine. >> sing it. >> going through the jasmine of my mind. i think th

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy. save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. . >>> a woman who thought she would never walk again took a stroll yesterday thanks to new biopick technology. a drunk driver hit her eight year ago and she's been in a wheelchair since. with the help of the xo bionic suit she's testing out in oklahoma city, she's stood up and demonstrated how she can walk. >> and i am walking again and i would never have -- and to stand up for the first time and that is like a great day. to me, walking never gets old. >> and i could -- on my pdf. >> doctors say only 10 states and 14 health care error facilities have this technology. show hopes to walk and get her grad school diploma next year while wearing this suit. >>> "good morning america" anchor robin roberts is trying to take a medical leave next month to receive a bone marrow transplant. she anno

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy.ho save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> welcome back, we have the market up, let's get to the market flash. >> watching shares of tpc group, the stock, moving higher on back of a published report that the company is discussing a leveraged buyout. the stock up better than 13% on this news. back over to you, scott. >> in the meantime, former citi group chairman sandy weills sending shock waives out too old when he said maybe we should break up big banks. >> what do you think about dodd-frank? >> it's too many pages to read. what i'm saying you can do in two or three pages. people would understand it. >> isn't that the problem with all regulations. >> that's so funny. >> they're like 8 million pages long. >> half of the guys don't read all of the pages, by the way. there must be a less complex way to approach the structure

mr. gallagher. incoming!!! it's wasteful. you know jimmy.ho save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. >>> a prominent political analyst is in the hospital today after a violent confrontation on capitol hill. police say it started outside a convenience store after someone stole his iphone. >> reporter: democratic strategist david mercer walks into a 7-eleven on capitol hill 10:00 last thursday night. the democratic party fund-raiser who worked on presidential campaigns talks on his cell phone, walks back and forth on the store's surveillance cameras. he's holding what appears to be a red bag or rolled-up t-shirt. he sets it down on the counter, continues to talk on the phone. moments later his iphone is set on the counter. take a look, the suspect takes the phone and puts it in his pocket. unaware, david begins checking his own pockets looking for the iphone. he approaches one of the suspects and asks h

mr. gallagher. incoming!!! hahaha! it's wasteful. you know jimmy.ho save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. fifteen minutes could save you fifteen percent or more. baltimore police... release... new video... of... teens áraidingá .. a... downtown ...convenience store. it happened... march 23rd... at this 7-11... on... light street...///. police... say... about... three dozen students... from a nearby school... packed the store... on... a... "free slurpee"... day...//. they... then... stole... chips... , soda... and... other items...//. some... workers ...tried stopping... them - when... they were leaving.../// but... things got physical...///. some... of... the employees... fought back - / before... the... thieves got away. from joy's pkg 00:49 it's dangerous. not only to innocent bystanders who might be in the way of large crowds of people moving down the street, but also business owners who have not only people, but their property to protect 59

mr. gallagher. incoming!!! it's wasteful. you know jimmy.olks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. >>> a.j. voight like lacrosse and had a girlfriend. they went to the movies that night with a friend. a.j. and the girlfriend survived a barrage of bullets from holmes but a.j. did not. he died in the theater. >> we just talked with a witness who survived the horror in the theater just behind me here. i'm joined now by eric hunter. he was watching the "batman" movie next door in theater eight. the horror happened in theater nine. you came face-to-face with that gunman. what was your reaction when you heard the gunfire? some of us thought it was the promotion for the movie. >> when it first happened we heard three gunshots that came through the wall. we thought they were firecrackers or something of that nature. we thought it was a part of the moving going experience they were trying to create. >>

mr. gallagher. incoming!!! it's wasteful. you know jimmy.olks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. >>> a.j. voight like lacrosse and had a girlfriend. they went to the movies that night with a friend. a.j. and the girlfriend survived a barrage of bullets from holmes but a.j. did not. he died in the theater. >> we just talked with a witness who survived the horror in the theater just behind me here. i'm joined now by eric hunter. he was watching the "batman" movie next door in theater eight. the horror happened in theater nine. you came face-to-face with that gunman. what was your reaction when you heard the gunfire? some of us thought it was the promotion for the movie. >> when it first happened we heard three gunshots that came through the wall. we thought they were firecrackers or something of that nature. we thought it was a part of the moving going experience they were trying to create. >>

mr. gallagher, with this piece of business. people in this global bank were being asked to fudge the nature of the payments to avoid a u.s. embargo and seizure. it is pretty shocking stuff. from 2003 -- 2002 through 2003, hsbc affiliate's continued to send thousands of these undisclosed iranian transactions through hbus. exhibit 1c is a chart that shows the numbers. even though the hsbc group was on notice, as early as 2001, hsbc affiliate's were sending these hidden aryan transactions through their accounts in the u.s., nobody did anything to stop it for years. you have recently become the head of compliance for the hsbc group. earlier that month, hbus was sent a memo laying out the business case for it to process iranian transactions. there was a substantial income opportunity. here is what you wrote in 2003. exhibit 45. the business case include references to practices which may constitute a breach of u.s. sanctions. in october 2003, one of your attorneys wrote to you that six banks were processing u.s. dollar payments that

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mr. gallagher. incoming!!! it's wasteful. you know jimmy. who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. here at the hutchison household. but one dark stormy evening... there were two things i could tell: she needed a good meal and a good family. so we gave her what our other cats love, purina cat chow complete. it's the best because it has something for all of our cats! and after a couple of weeks she was healthy, happy, and definitely part of the family. we're so lucky that lucy picked us. [ female announcer ] purina cathow complete. always there for you. >>> we're back now live in aurora, colorado, where a memorial service just wrapped up moments ago at the municipal center, and the governor spoke, the mayor spoke. before that, the president of the united states also addressed the people here and the nation at the university of colorado hospital. what you're looking at now is another memorial, a make

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mr. gallagher. incoming!!! it's wasteful. you know jimmy.ks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. 15 minutes could save you 15% or more. this is new york state. we built the first railway, the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs. a place where innovation meets determination... and businesses lead the world. the new new york works for business. find out how it can work for yours at thenewny.com. >>. >> sean: now the other big story coming out of the massacre within hours of shooting those on the left in the mainstream media begin to politicize this tragedy. here are few examples. for any of the facts to come out. brian ross went on the air and alleged that the shooting suspect could be a member of the tea party. listen to this. >> i want to go to brian ross, you've been investigating t