Fri Jul 20, 2012 at 12:22 AM PDT
Looks like Mitt Romney's trip to London next week is not going to be
the delightful escape from calls for him to release more of his income
taxes that he might have hoped it might be. I was just reading an
article at the New York Times when this paragraph jumped out at me:
In a sign of just how politicized the scandal has become, 11
members of Parliament recently signed a resolution, naming Mr. Romney,
that called for Barclays executives to “cease fund-raising for political
candidates” and focus on rebuilding consumer confidence in the banking
system.
London Fund-Raisers Put Romney in a Scandal’s Glare
Curious as to what such a resolution actually said, I searched and found it at Parliament's website:
BARCLAYS BANK, LIBOR AND REPUBLICAN DONATIONS
Session: 2012-13
Date tabled: 16.07.2012
Primary sponsor: Morris, Grahame M
Sponsors: Cunningham, Jim | Durkan, Mark | McDonnell, John | Mearns, Ian | Ritchie, Margaret
That this House 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.
Early day motion 399
A British Political Blog has more:
Co-sponsor of the Early Day Motion, Grahame Morris MP, told Left Foot Forward:
“Barclays executives have had their eyes off the ball for too long now. They must now stop fundraising for US Republican candidates and start rebuilding public confidence in the banking system here in the UK which they have done so much harm to.
“Parliament must send a strong message to these banking elites that it is no longer business as usual. Politicians are expressing the outrage felt by the ordinary people we represent.”
Parliamentary motion calls on Barclays’s senior staff to stop fundraising for Romney
The
New York Times article reports
that Romney will be attending two fundraisers in London that were
supposed to be low-key. However, since the LIBOR scandal is dominating
the news in London, the fundraisers "are turning into an ill-timed
public relations headache for him." Last week the
Boston Globe had more details about Romney's two events in London:
[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.
Mitt Romney plans two London fundraisers on the eve of the Olympics
Headaches at home, headaches abroad. Doesn't seem like Mitt Romney can
catch a break. Well, perhaps he will be able to relax a little when he
watches his horse perform in the Olympics.
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