Romney’s London fundraisers will take him to heart of scandal-plagued banking industry

Mitt Romney’s overseas trip next week will take him to the heart of London’s scandal-ridden banking industry, as the presumptive Republican presidential nominee holds two campaign fundraisers hosted by lobbyists and executives from more than two dozen financial institutions.

The hosts of Romney’s high-dollar reception and dinner in central London on July 26 overwhelmingly represent banks, hedge funds and other financial institutions, some of which are embroiled in the so-called Libor rate-fixing scandal.

By appearing at the fundraisers on the eve of the Olympics opening ceremonies, Romney risks associating his campaign with the unfolding scandal, which focuses on banks that manipulated the London Interbank Offered Rate that serves as a benchmark for mortgages, auto loans and other financial contracts.

One of the event’s co-chairs is Patrick Durkin, a Washington-based lobbyist for Barclays, which agreed last month to pay $450 million to settle allegations that it manipulated Libor before and after the financial crisis. Durkin has helped raise $1.1 million for the Romney campaign, according to U.S. disclosure records.

full: http://www.washingtonpost.com/politics/romneys-london-fundraisers-will-take-him-to-heart-of-scandal-plagued-banking-industry/2012/07/18/gJQAzKqGuW_story.html