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FBN’s Charlie Gasparino on how the Libor interest-rate-rigging scandal is impacting the GOP’s ability to fundraise.
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From Tampa without breaking news that I alluded to a moment ago just a quick set -- and here's why its interest -- we talked the last.
I guess the last few months really about how the Republicans sub might do pretty well in fund raising from Wall Street largely because of that the perception of the reality that the president is anti Wall Street.
Might benefit the Republicans Charlie's come up.
With the new wrinkle in all of this and it all has to do with the interest rate rigging scandal Libor -- scandal and again he joins us now on the phone what's going on Charlie.
Only processes about putting some Libor fundraising stories smoking -- And you know grant that I got the story between three martini -- I think you have to bear with me a little bit.
This is what I'm hearing from top Republican fundraisers in overall bout -- Tampa.
The at the convention.
Milling around -- the parties -- just -- it is this that the right course scandal.
Is essentially capping how much contributions they can get from Wall Street Wall Street.
Wants to support -- deeply in supporting him -- a big -- But it it but if you put -- cookbook put fundraisers -- -- -- they go to the bank.
Executives at banks think I like JPMorgan.
Bank of America and -- UBS's disrespect US subsidiary Bob we can run for what they told people like McCain and what they're hearing at this.
They cannot give it much money they want to improbably and if you look at those contributions from most -- places but there but they're dead but they've been sort of cap to.
-- they have a cap on their contributions.
Because -- like where's cable specifically.
They do not want to anger the Obama Justice Department with the Obama administration is investigating distinct.
Even -- Tim Geithner -- -- this New York fed president.
Put ignored it.
-- now be investigated -- the administration do the Justice Department is investigating it -- what these executives these banks in particular with JPMorgan.
UBS.
Bank of America is David that they -- us you know show and so a lot of support for Mitt Romney.
Because of the life force cable because they don't want to anger the Justice Department at this very critical time in this scandal.
It's no charges have been at that level just yet.
We do know there is -- local operators they're looking at places like Barkley is like JPMorgan like Bank of America like Citigroup.
But what these folks -- saying and telling the Republican fundraisers is that.
They basically have to hold back on their contributions.
Because of the scandal they've been -- this from the upper levels of the banks and wanted to -- and the reason is they're worried about retribution now.
-- haven't been threatened by the body -- administration.
I highly doubt any overt threats -- debate.
But clearly the -- is at these banks that they can't do anything.
To get on the -- side of this administration in this environment where obviously -- probably going to be charges.
We don't know the severity of the charges it is an active criminal investigation.
Just -- civil investigation active criminal investigation.
So because of all that they have to hold back -- their contribution -- at least that's what they're telling several key Republican fundraisers like go to these are.
Gentlemen who.
Are either on Wall Street.
Or have left Wall Street but are are actively try to raise money to permit -- Governor Charlie thank you very much will be back wanted to get that on on the -- but Charlie -- on throughout the day from.
From Tampa to -- interesting how these how these things play out the interest that that Wall Street.
Has -- and certainly a lot of the campaign money does come from Wall Street so get back to Charlie.
Throughout the day in ten.
