July 3rd, 2012
12:29 PM ET
6 years ago

Barclays scandal claims co-host of Romney fund-raiser

(CNN) – The chief executive of Barclays, who resigned Tuesday amid a bank lending scandal, will no longer co-host an upcoming fund-raiser for GOP presidential candidate Mitt Romney, a campaign spokeswoman confirmed Tuesday.

Bob Diamond, who stepped down from his role at one of the world's largest banks following the resignation of Barclay's chief operating officer, was slated to co-host the fund-raiser in London during Romney's upcoming trip to the Olympic Games.

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"Mr. Diamond decided to step aside as a co-host for the upcoming London reception to focus all his attention on Barclays. We respect his decision," Andrea Saul, a spokeswoman for Romney, wrote in a statement. News of Diamond stepping down from the Romney fund-raiser was first reported by the Financial Times.

Diamond has long been a controversial figure, and has been a vocal backer of huge bonuses for bankers.

"It's about pay for performance," he told CNN earlier this year, calling bonuses "rewards for success."

Barclay's reputation has been hammered by a scandal involving the rates at which banks lend each other money, known as Libor.

That rate affects how much interest ordinary people pay on everything from credit card debt to home mortgages and student loans.

Romney currently enjoys strong backing from bankers, some of whom regard President Barack Obama's ad campaign against Romney's former employer, Bain Capital, as anti-capitalist.

Individuals who work in the securities and investment industry gave the Romney campaign $8.5 million through the end of April, according to data from the Center for Responsive Politics.

Over the same time period, Obama brought in only $3 million from securities and investment workers, and the industry is only the campaign's fifth largest source of funds.

One pro-Romney super PAC, Restore Our Future, raised more than $20 million from individuals and organizations associated with the securities and investment industry through April.

Obama's super PAC, Priorities USA Action, only received $218,500 from the same group during the same period.

CNNMoney's Charles Riley contributed to this report.

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Filed under: Fundraising • Mitt Romney
soundoff (50 Responses)
  1. NotFooledByDistractions

    Wooooo, where's caribou barbie when we need her? she could get the attention she craves by reviving one of her most famous schticks. She could vilify romney for pallin' around with criminals.

    romneys buddyin' up with crooks. what a surprise.

    July 3, 2012 01:27 pm at 1:27 pm |
  2. Newmoon2

    Welcome to the face of the Citizens United decision. Corporations are people, regardless of their 'nationality'. Foreign money talks louder and louder in OUR elections.

    July 3, 2012 01:28 pm at 1:28 pm |
  3. Thomas

    Why not have Donald Trump take his place .

    has friends in Low Places .

    July 3, 2012 01:30 pm at 1:30 pm |
  4. Sniffit

    We need a Personhood Amendment: one that says corporations aren't.

    July 3, 2012 01:34 pm at 1:34 pm |
  5. Wire Palladin, S. F.

    Mittens and his friends have more money than they will ever need, but they have no morals.

    July 3, 2012 01:39 pm at 1:39 pm |
  6. BLKMANinAmerica

    OH, why not? Everyone knows the repuks are croockit as a $4 bill.

    July 3, 2012 01:42 pm at 1:42 pm |
  7. Rudy NYC

    chuck weidemann

    So Romney's camp says Mr. Diamond who has stepped down from Barclays is now stepping away from Romney's fundraiser to focus on Barclays???? But he is no longer at Barclays!!! .......
    That's an accurate statement from the Romney campaign. It implies that Diamond needs to focus on the possibility that his illicit activities at Barclay's will wind up in court with him being the defendant.

    July 3, 2012 01:46 pm at 1:46 pm |
  8. v_mag

    Isn't it peculiar to think of fundraising for an American presidential candidate at an event in London? That's England, you know. A foreign country. Sure, foreign money has been filtering into American presidential races for a long time, but isn't this just a little too blatant? With Citizens United, the floodgates are open for foreign money to buy presidential elections.

    So, why is the GOP so hyper-concerned about the *possibility* of a few poor Hispanic aliens voting and not concerned about the absolute certainty of *rich* foreigners buying the election outright?

    July 3, 2012 01:47 pm at 1:47 pm |
  9. Wake up people

    This right here sickens me. People from other countries are buying our elections?? This should be illegal. And they call President Obama a socialist?? At least he isn't attempting to sell America to the highest bidder. Anyone that votes republican that is not a millionaire, is not working with a full deck.

    OBAMA 2012!

    July 3, 2012 01:48 pm at 1:48 pm |
  10. California

    I expect the left to fall back on their all inclusive argument of calling everyone a racist very soon.

    July 3, 2012 01:56 pm at 1:56 pm |

    When you go to London Willard, report back home if the "trees are just the right height." lol

    July 3, 2012 01:58 pm at 1:58 pm |
  12. v_mag

    This is really in-your-face from the tightie righties. Fundraising for the American election in England. The host was going to be a guy forced to resign because of a banking scandal where millions of common folk were hurt. Nobody apparently going to jail for that. The ex-CEO walks off with $25M from his last year there, instead of doing the perp-walk to some English prison.

    All the while, the Repugants in places like Florida purge voter rolls of people who *might* be registered illegally, potentially disenfranchising thousands of American citizens, and at the same time shovel in the money from rich foreigners to Rob-money's campaign. And all we do is sit with our jaws open, staring, and wondering when somebody is going to put a stop the this madness.

    July 3, 2012 01:59 pm at 1:59 pm |
  13. An American

    Diamond and the other people at the fundraiser are all Americans! Yes, if you are an American citizen you can donate to a campaign regardless of where you live. I know since I am from Maryland since a few years have been living in Germany...I can donate too. There are a bunch of Americans living in London which is why it would make sense to fundraise there, so please don't write ignorant comments suggesting that non-Americans are donating to campaigns/influencing the election.

    July 3, 2012 02:01 pm at 2:01 pm |
  14. Claudia, Houston, Tx

    Our U.S. Treaty with foreign countries has been breached. WHY? Because anything coming into this country from freign countries their names must be given and I don't understand how the Justices ruled allowing this or was this really their intent.

    July 3, 2012 02:02 pm at 2:02 pm |
  15. Sniffit

    "I expect the left to fall back on their all inclusive argument of calling everyone a racist very soon."

    What, you didn't get the memo? We've all decided that the appropriate tack to take is to simply wait for people like you to make racist statements like you just did and then just silently point at you.

    July 3, 2012 02:09 pm at 2:09 pm |
  16. ttim

    Yes, Wake Up People! Romney does NOT care about YOU! He is in bed with the CORPORATIONS and they do
    not care about you! My health insurance cost the same as mortgage now. Give that some thought!
    OBAMA 2012!

    July 3, 2012 02:09 pm at 2:09 pm |
  17. Larry L

    Romney better hope all of his backers who qualify a "corporate crooks" don't get caught. He'll be left with nothing but a dog tied to the roof and a bunch of "birthers" looking for leadership...

    July 3, 2012 02:11 pm at 2:11 pm |
  18. georgewashington

    Another reason not to vote for Romney.

    July 3, 2012 02:15 pm at 2:15 pm |
  19. georgewashington

    Romney's circle of supporters certainly is highly suspect.

    July 3, 2012 02:16 pm at 2:16 pm |
  20. georgewashington

    No doubt Romney sees nothing wrong with Barclay's behavior.

    July 3, 2012 02:17 pm at 2:17 pm |
  21. Mike

    Mitt loves money therefore he loves Diamond, regardless of how shadey he is.

    July 3, 2012 02:19 pm at 2:19 pm |
  22. FunnyTimes

    Now I am not a Republican or a Democrat. But I do recall Mr. Obama traveling around the world drumming up support for his campaign. Now I am not sure how much money he raised in his world tour, but he did campaign internationally. Now two wrongs do not make a right, but do not act like Obama is not guilty or the same thing.
    And to accuse Romney of hanging with criminals while cheering on Obama is once again a pot calling the kettle black. Obama has very close connections to several criminals. Including one he had real estate dealings with and another who was a member of a terrorist organization in the 1970's...there are several more but thats more than enough than to say anything mentioned in here should not hurt Romney.

    July 3, 2012 02:21 pm at 2:21 pm |
  23. MaryM

    There you have it folks. Birds of a feather. Romney and the corrupt People running the corporations.

    Really? fund raising in another country. What in Gods name did Romney think he was doing.

    Obama 2012


    Obama/Biden 2012

    July 3, 2012 02:28 pm at 2:28 pm |
  24. vote the Tea Party OUT in 2012

    don't worry the far right will try to spin this that it's not only to put Romney in a positive light but to make it ALL Obama's fault somehow.

    July 3, 2012 02:32 pm at 2:32 pm |
  25. Karm99

    You just got to love Mitt Romney's friends.

    To Donald Trump, Rush Limbaugh, Ted Nugent, Wayne LaPierre, and Sheldon Adelson, now you can add Bob Diamond.

    Mitt's friends make Rev. Wright and Bill Ayers look like saints.

    July 3, 2012 02:41 pm at 2:41 pm |
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