Will Romney be Implicated in LIBOR Scandal?Submitted by myajace on Fri, 07/13/2012 - 16:49
WASHINGTON -- A disgraced London banker has rescinded an offer to co-host a high-dollar fundraiser for Mitt Romney, sparing the GOP hopeful the difficulty of appearing at a lavish event with a man embroiled in scandal.
"Of course" Mitt Romney is connected in some way to Barclays Bank. Who is surprised? Barclays Bank has been in the news recently because of the LIBOR interest fixing scandal, though hardly enough outrage is being generated. Barclays CEO, 'Barclay Bob' Diamond, first said he was foregoing his $4 million bonus, then had to resign in disgrace.
Romney's plan to hold a fundraiser in London this summer with Barclays CEO Robert Diamond was reported June 28 by the London Telegraph. The cost of the dinner seemed to shock the British paper, which noted that "the price of invitations dwarfs the amounts paid for such fund-raisers in British politics."
What is Libor and why should we care?