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.Curious as to what such a resolution actually said, I searched and found it at Parliament's website:
BARCLAYS BANK, LIBOR AND REPUBLICAN DONATIONSA British Political Blog has more:
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.
Co-sponsor of the Early Day Motion, Grahame Morris MP, told Left Foot Forward: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:
“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.”
[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.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.
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.