Barclays Executive Bob Diamond Also Resigning From Mitt Romney Fundraiser

Videos Highlighting The Latest Search Trends.
July 3 2012 5:06 PM

 Barclays Executive Bob Diamond Also Resigning From Mitt Romney Fundraiser

143897668
Barclays PLC chief Executive Bob Diamond, who stepped down this week, also bowed out of a fundraiser for GOP candidate Mitt Romney.

Photo by IAN KINGTON/AFP/GettyImages

Wealthy investment bankers are great fundraiser hosts during your campaign for president—unless they just resigned in scandal.

Chief executive of Barclays Bob Diamond, who stepped down this week after revelations that Barclays Capital was trying to hide losses at the bank from national regulators, has also bowed out of co-hosting a high-priced fundraiser in London for Mitt Romney.

Advertisement

The fundraiser, reportedly costing between $25,000 and $75,000 a ticket, would have also featured the GOP candidate, who is visiting Britain for the opening ceremonies at the London Olympics. A Romney spokesperson said that they respected Diamond’s decision “to focus all his attention on Barclays.”

Diamond, one of the highest-paid executives in Britain, resigned Tuesday under political pressure and pressure from shareholders. His multinational banking company is also paying a $453 million settlement after regulators discovered traders tried to secretly adjust a key inter-bank lending rate to hide funding difficulties and pad the pockets of certain traders.

Video by Dallas Jensen.

Ben Johnson is the producer of Marketplace Tech from American Public Media.

TODAY IN SLATE

Foreigners

More Than Scottish Pride

Scotland’s referendum isn’t about nationalism. It’s about a system that failed, and a new generation looking to take a chance on itself. 

What Charles Barkley Gets Wrong About Corporal Punishment and Black Culture

Why Greenland’s “Dark Snow” Should Worry You

Three Talented Actresses in Three Terrible New Shows

Why Do Some People See the Virgin Mary in Grilled Cheese?

The science that explains the human need to find meaning in coincidences.

Jurisprudence

Happy Constitution Day!

Too bad it’s almost certainly unconstitutional.

Is It Worth Paying Full Price for the iPhone 6 to Keep Your Unlimited Data Plan? We Crunch the Numbers.

What to Do if You Literally Get a Bug in Your Ear

  News & Politics
Weigel
Sept. 16 2014 7:03 PM Kansas Secretary of State Loses Battle to Protect Senator From Tough Race
  Business
Moneybox
Sept. 16 2014 4:16 PM The iPhone 6 Marks a Fresh Chance for Wireless Carriers to Kill Your Unlimited Data
  Life
The Eye
Sept. 16 2014 12:20 PM These Outdoor Cat Shelters Have More Style Than the Average Home
  Double X
The XX Factor
Sept. 15 2014 3:31 PM My Year As an Abortion Doula
  Slate Plus
Slate Plus Video
Sept. 16 2014 2:06 PM A Farewell From Emily Bazelon The former senior editor talks about her very first Slate pitch and says goodbye to the magazine.
  Arts
Brow Beat
Sept. 16 2014 8:43 PM This 17-Minute Tribute to David Fincher Is the Perfect Preparation for Gone Girl
  Technology
Future Tense
Sept. 16 2014 6:40 PM This iPhone 6 Feature Will Change Weather Forecasting
  Health & Science
Medical Examiner
Sept. 16 2014 11:46 PM The Scariest Campfire Story More horrifying than bears, snakes, or hook-handed killers.
  Sports
Sports Nut
Sept. 15 2014 9:05 PM Giving Up on Goodell How the NFL lost the trust of its most loyal reporters.