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Barclays Under Fire For Fundraising With Hedge Fund Buddy Romney

New York (HedgeCo.Net) – UK newspaper The Telegraph reports that 11 Members of Parliament have demanded that Barclays Bank stop raising money for former hedge fund manager and Republican presidential hopeful Mitt Romney, and instead work to rebuild the public’s trust in banks following the Libor rate-setting scandal.

Executives at Barclays have reportedly donated more than $1m (£645,000) to US Republican presidential candidate Mitt Romney’s election campaign.

(The Bank) is said to have written to MPs stressing that any fundraising or political activity was carried out in “a personal capacity”.

Former Barclays Bank co-head, Jerry del Missier, who resigned after the $455 million interest-rate rigging scandal, received a pay-off of almost $14 million, the Telegraph said.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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