MPs call on Barclays to stop funding Mitt Romney


by Sunny Hundal    
6:57 pm - July 17th 2012

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An Early Day Motion today, signed so far by seven MPs, links the US candidate Mitt Romney to Barclays and the Libor scandal.

I’ve broken the sentences down so they’re easier to read:

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;

furthernotes 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 ofits 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.

See the EDM here.

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About the author
Sunny Hundal is editor of LC. Also: on Twitter, at Pickled Politics and Guardian CIF.
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Reader comments


1. Janvier

I believe our MPs are overstepping their bounds on this one, though I do wonder why Mittens is having a fundraiser here when only US residents can legally donate and there are hundreds of venues Stateside that could use the extra business.

2. john b

Janvier – the answer is that you’re wrong. US *citizens*, no matter where they live, may contribute (resident non-citizens who are Green Card holders may also contribute, but that’s not important right now). There are plenty of wealthy, Republican-leaning Americans in London, and obviously the fundraiser is targeted at them.

3. Andreas Moser

Does anyone else notice the irony of British MPs telling international bankers to concentrate on their main job?

4. Tim Worstall

You’re serious?

British MPs believe it is their job to tell foreigners how to do politics in foreign countries?

Didn’t we stop doing that when we retired the last gunboat?

5. Bob B

Aren’t there US federal laws strictly banning foreign contributions to the campaigns of candidates for US elections?

I imagine it would be quite difficult to check out whether all the money paid out for seats at a fund raising dinner in London was legal or not. How tight will the security vetting be?

6. margin4error

For those suggesting – ludicrously – that it is beyond the bounds of MPs to express opinions on nything and everything – please god stop peddling such rubbish.

This pointless and incipid distraction is deployed again and again when MPs take a stance that some one doesn’t like. But MPs are elected on the back of opinion, and to reflect the views of the electorate, and to influence things that the public care about.

Managerial politics may be the rather dry day-job stuff – but opinion is the point of democracy.

7. john b

I imagine it would be quite difficult to check out whether all the money paid out for seats at a fund raising dinner in London was legal or not

“Excuse me sir, please can you show me your US passport? Yes? Excellent, thank you very much for the cheque.”

“Excuse me sir, please can you show me your US passport? No? I’m sorry but you’ll have to leave, here’s your cheque back.”

Bish-bosh, job done.

8. Bob B

“Bish-bosh, job done.”

But aren’t advance ticket sales to the fund-raising dinner being sold over the internet or by post? In which case, what checks are there that the sales are to US citizens? It doesn’t appeared to have dawned that, quite likely, the donners care more about making significant donnations to the Romney election campaign than actually attending the dinner in person.


Reactions: Twitter, blogs
  1. FiveDee's Cats

    MPs call on #Barclays to stop funding Mitt Romney.Is there no end to levels they'll stoop? #Taxhavens the common theme http://t.co/chPRzZ1R

  2. London BDS

    #UK MPs call on Barclays to stop funding #MittRomney http://t.co/pXlHuI1c V @libcon #

  3. Sara ????

    #UK MPs call on Barclays to stop funding #MittRomney http://t.co/pXlHuI1c V @libcon #

  4. Mike Hoffman

    I think Barclays 'fessed up to the LIBOR scandal to look better when it emerged they'd also backed Mitt Romney. http://t.co/BXOnzSjm

  5. Lucy Eldridge

    British MPs call on Barclays to stop funding Mitt Romney post-Libor http://t.co/bp6py1Aq (cc @theplumlineGS @markos @aravosis)

  6. AJ

    MPs call on Barclays to stop funding Mitt #Romney | Liberal Conspiracy http://t.co/NzZMJEke #Libor

  7. Grahame Morris

    MPs call on Barclays to stop funding Mitt Romney http://t.co/ODfyuWIl

  8. Laura

    MPs call on Barclays to stop funding Mitt Romney http://t.co/ODfyuWIl

  9. Marat1789

    MPs call on Barclays to stop funding Mitt Romney http://t.co/ODfyuWIl

  10. Pucci D

    RT @libcon: MPs call on Barclays to stop funding Mitt Romney http://t.co/ArNIu0kF #fb

  11. saramo

    MPs call on Barclays to stop funding Mitt Romney | Liberal Conspiracy http://t.co/s1tJubtF via @libcon

  12. lesley_london

    MPs call on Barclays to stop funding Mitt Romney http://t.co/ODfyuWIl

  13. Alex Braithwaite

    MPs call on Barclays to stop funding Mitt Romney | Liberal Conspiracy http://t.co/3M5NnmMm via @libcon

  14. Tim

    MPs call on Barclays to stop funding Mitt Romney | Liberal Conspiracy http://t.co/3M5NnmMm via @libcon

  15. Birmingham Clarion

    MPs call on Barclays to stop funding Mitt Romney | Liberal Conspiracy http://t.co/3M5NnmMm via @libcon

  16. Lauren Weiner

    Ahead of Mitt's visit aboard (but not to see his dancing horse) MPs call on Barclays to stop funding Mitt Romney http://t.co/ieFXwE9t

  17. Lee Hyde

    MPs call on #Barclays to stop funding Mitt #Romney http://t.co/s7Nkvyqh /by @sunny_hundal via @libcon ft @Barclays @MittRomney

  18. Arun Mehta

    UK MPs call on Barclays Bank to stop funding Mitt Romney. http://t.co/kPa4ugBV via @libcon

  19. Will Lord

    What the hell is Barclays doing spending time raising money for Romney instead of mending its disgraced reputation? http://t.co/kwt5F2Dp

  20. Georgia Power

    What the hell is Barclays doing spending time raising money for Romney instead of mending its disgraced reputation? http://t.co/kwt5F2Dp

  21. Hengist McStone

    The link between #Libor and Mitt Romney – Hot stuff . #OccupyWallStreet #ows #potus http://t.co/QMqQf1MV

  22. hardknoxfirst

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  23. hardknoxfirst

    The link between #Libor and Mitt Romney . #OccupyWallStreet #ows #potus http://t.co/zO1rb1ZR #OccuChat

  24. Warren P

    The link between #Libor and Mitt Romney . #OccupyWallStreet #ows #potus http://t.co/zO1rb1ZR #OccuChat

  25. G. Walker Gate

    @MittRomney is running for EU Presidency. To collect $$BIG from #LiBor #Banksters. #WTFmit

    http://t.co/4kzVQDd9

  26. AJea L

    The link between #Libor and Mitt Romney . #OccupyWallStreet #ows #potus http://t.co/zO1rb1ZR #OccuChat





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