Robert Diamond, Disgraced Barclays Banker, Pulls Out Of Romney Fundraiser

Is accepting campaign donations from foreign banks even legal?

A disgraced London banker has rescinded an offer to co-host a high-dollar fundraiser for Mitt Romney, sparing the GOP hopeful the difficulty of appearing at a lavish event with a man embroiled in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.

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.”

On Tuesday, Diamond resigned from Barclays after his bank was fined more than $450 million by British and U.S. authorities for attempting to manipulate the Libor rate (London interbank offered rate), a key global metric used to set everything from credit card to mortgage interest rates.

more at Robert Diamond, Disgraced Barclays Banker, Pulls Out Of Romney Fundraiser.


Hello world!

Hello World! Okay, I have to admit my first blog post is off to a pretty slow start. Maybe it is just because the weather here is oh so beautiful right now, but it is a little difficult to focus on such things as bank stress tests or the possibility of a Greek default – or even the Republicans latest attempt to sabotage the struggling economic recovery – even though we probably can’t afford to take our eyes off of such things even for a minute.  Hey, mainstream media (MSM) has finally decided to shine a light on some of the shenanigans of the ever-so-corrupt Supreme Court Justice Clarence Thomas though, so maybe there is some hope.  For the moment I think I will just jump into the bay window for some good, old-fashioned window-sill sunbathing.

Oh, but before I forget here are some other interesting links that I probably should be blogging about: