Romney needs to draw the line somewhere
Tonight in London, Mitt Romney is throwing a fundraiser and top banking executives have forked over $75,000 a piece to attend. These are not your average millionaires. They are leaders of Barclays and 15 other banks that were involved in the biggest banking scam in recent history — manipulating the LIBOR interest rate. By illegally setting this rate for their own gain, they affected pensions and consumer interest rates.
These scandal-ridden execs know that if they buy politicians, they won’t have to trade their pin stripe suits for jailbird jumpsuits. They’re hedging their bets and writing huge checks to both Romney and Obama. We need to speak out and tell both Presidential candidates that, by taking money from bankers who stole from American pensions, they have crossed the line.
We’re going to track each dollar they accept from banking executives tied to the scandal. If we get 50,000 people to support our effort by September 15, we’ll publish our message in a major newspaper.
The biggest losers from the LIBOR scandal are grandma and grandpa. Since LIBOR manipulation began in 2007, foreclosures for elderly retirees have skyrocketed—over 1.5 million homeowners over 50 have lost their homes and the foreclosure rate for the over-75 crowd has increased by 867 percent.
The UK Parliament fined Barclays $450 million, and last week 11 members of Parliament signed a resolution urging Barclays’ executives to keep their hands out of American political campaigns and focus their efforts on building consumer confidence. The U.S. Justice Department is expected to file criminal charges this year, not to mention thousands of class-action lawsuits.
Scandals like LIBOR will keep happening as long as politicians continue to accept money from rule-bending bankers who think they can get away with anything as long as they write a big enough check. This election, we have a chance to tell presidential candidate that we won’t stand for it anymore.
Alberto, Galit, Matt and the entire unPAC team