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Romney "Goes for the Gold" in London's Libor Village

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Cross-posted from The Nation


London --In fairness to Mitt Romney, he did not schedule his $75,000-a-plate money grab at the altar of international finance when he heard that -- via the Libor bank-rate scandal -- Londoners were practicing his kind of crony capitalism.

Even before the Bain capitalist knew that bankers in London were lying to regulators and fixing interest rates in order to run up their profits -- engaging in activities that the governor of the Bank of England said "meet my definition of fraud" -- Romney was excited about getting a piece of the London bankster action.

But the Romney campaign has has gone to Olympian lengths to make their candidate's British sojourn seem to be about something other than the looting of London.

The Republican presidential contender's international fundraising operation -- and, yes, he does have an international fundraising operation -- scheduled two major events to coincide with the opening of the Olympic Games. As a candidate who is having trouble touting his business experience (Bain Vulture Capital) and his governing experience (RomneyCare), the presumptive Republican presidential nominee calculated that it might be a good idea to take a trip across the pond to highlight his (somewhat less controversial) management of the 2002 Winter Olympics in Salt Lake City.

The Olympics are being held this year in east London, just beyond the fabled "City" precincts which are, along with New York's Wall Street, the nerve center of global banking and financial dealmaking. And Romney is using his London sojourn to skim off some cash -- make that a lot of cash -- for his campaign accounts.

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John Nichols, a pioneering political blogger, has written the Online Beat since 1999. His posts have been circulated internationally, quoted in numerous books and mentioned in debates on the floor of Congress.

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