Romney's indirect connection to LIBOR scandal

[Nancy Waterman]

http://www.dailykos.com/story/2012/07/20/1111962/-UK-Parliament-Fundraising-by-Bankers-Resolution-Names-Mitt-Romney-specifically

That this House (of Parliament) notes that Republican Presidential candidate Mitt Romney is to host a private fundraising dinner in London prior to the Olympics; understands that according to reports in the Financial Times of 3 July tickets to the dinner are being sold at between $25,000 and $75,000 per head; further understands that the event is being chaired by several senior banking executives and lobbyists; further notes that the recently departed Barclays Chief Executive Bob Diamond and other existing senior Barclays executives have played a prominent role in fundraising efforts for the Romney campaign; further understands that at least 15 of Barclays Capital's most senior bankers based in the US have donated the maximum allowable individual donation per election to the Romney campaign; further understands Barclays' Head of Government Policy and Finance group has already raised $927,000 for the Romney campaign; further notes the recent revelation of the destructive role Barclays has played in the international LIBOR-setting scandal; recognises fears that hundreds of thousands of borrowers and mortgage owners in the UK could have been adversely affected; believes that Barclays comprehensively failed to work in the interests of its customers; further believes Barclays senior executives continue to not fully appreciate the consequences of the actions and behaviour of the financial sector in causing the global banking crash in 2007-08, which ordinary working people are now paying for; and calls on Barclays and its executives to cease fundraising for political candidates immediately and to concentrate entirely on repairing confidence and trust in the banking system instead.


This indirect connection between Romney and these donors who are implicated in the LIBOR scandal brings up
the question of what these donors can expect if he wins and they get investigated by the Justice Department. The potential for corruption here is massive. This reminds me of Sheldon Adelson clearly hoping his money will buy him immunity for his misdeeds in Macau regarding the corrupt foreign practices law.

[patrice]

1. K! & R!

[mojo2012]

2. SECOND trip to London to fundraise for his campaign - is Romney still going? Really?

Seems to be a running theme...Barclays (bank), Deutsche Bank, Wells Fargo Securities, Bank of Credit Suisse, Goldman Sachs, and of course Bain Capital (European branch)

If Mitt Romney is still planning to go to London for his 2nd fundraiser in London amidst the rate-fixing scandal at Barclays, then I really don't feel any sympathy for the whining he and his campaign team are making about how there's too much focus on his financials. This can't be a more dumb move to go forward, but then again, it must be important enough for Romney to go ahead with the fundraiser.
As the original poster said, what are these donors expecting from Romney if he wins? Or will there be another Romney flip flop when he will turn the other way and say he had nothing to do with these donors, after there are potentially more investigations of these banking institutions? Maybe they're all vying for Romney to put his money in their banks overseas, or more likely, expect some regulations to be relaxed or eliminated.

taken from Boston Globe
[A]mong those hosting the events is Patrick Durkin, a registered lobbyist for Barclays, which has been at the heart of a rate-fixing scandal. Durkin, who has been a top Romney bundler, is one of seven chairs for the reception and among the 13 co-chairs for the dinner.
Others involved in hosting the events are Dwight Poler, managing director at the European branch of Bain Capital, the firm Romney founded; Raj Bhattacharyya, managing director at Deutsche Bank; and Dan Bricken, a managing director at Wells Fargo Securities.

Among the others involved are Woody Johnson, the owner of the New York Jets; Eric Varvel, the chief executive officer of Bank of Credit Suisse; and Gregg Lemkau, who is the Goldman Sachs head of mergers and acquisitions for Europe, the Middle East, Africa, and Asia-Pacific.

London is one of the world banking hubs, with plenty of Americans who are involved in the securities and investment industries that Romney has targeted. This is Romney’s second trip to London to raise money for his presidential campaign.