Quote

Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional activities as banks try to rebuild their balance sheets.

Vince Cable

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Vince Cable
Age: 81
Born: 1943
Born: May 9
British Politician
Economist
Politician
Jórvík
John Vincent Cable
Vincent Cable
Activity
Scale
Retail
Balance
Scales
Losses
Loss
Massive
Banking
Resembled
Modern
Investment
Sheets
Casino
Trying
Traditional
Banks
Casinos
Years
Consequence
Gambling
Dragged
Financial
Recent
Rebuild
Aspect
Activities
Lending

More quotes by Vince Cable

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My time at Shell was a most valuable experience because it taught me to look at the world in a long-term way. Shell takes a 20-year view on events and plans for different scenarios. It makes you see the world as a kind of large matrix.
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So I went into government with a clear mind about what the problems were, and what needed to be done.
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My job is to support businesses, that means promoting British commerce in the big emerging markets that have been neglected in the past. It means keeping Britain open to inward investors, trade and skilled workers. It means cutting red tape which is suffocating growing companies which create jobs.
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Our workforce is very co-operative, very flexible, easy to work with and one of the big selling points. The idea that Britain is still back in the labour market of the '70s is utterly bizarre.
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We need a new British business bank with a clean balance sheet and an ability to expand lending rapidly to the manufacturers, exporters and high-growth companies that power our economy. Today I can announce we will have one.
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Where there is flagrant abuse of corporate entities we must and will seek to tackle it.
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I don't feel comfortable with luxury, and I try to stay fairly normal.
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For wide swaths of training and education there are valuable spillovers which mean that the private sector needs support from the government. That is why I have been so determined to protect and grow apprenticeships and put higher education on a sustainable footing.
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My late wife Olympia was Goan and I've been to India many times. I love the food there. We used to do our shopping in Southall, where you can find cheap but wonderful fruit like mangoes, vegetables and spices. I didn't do much of the cooking, as Olympia did a lot - I was the under-chef and did some of the chopping.
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The Tories are now the party of rural areas and Labour essentially is in the big cities
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The worship of youth has diminished - perhaps generally - in recent years.
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Well, as I said, you know the issue of Greek debt, they've grasped the principle of debt reduction. I think most people would argue that probably more needs to be done on that front, and they've just begun to take the first steps to accepting that there's going to have to be much closer economic integration in Europe.
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The government increasingly resembles somebody who is trying to give the kiss of life to a corpse.
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I'm now happily remarried to a good cook, which encourages me to be lazy. I like to think that I'm a new man, but perhaps I'm not. I offset it by doing the ironing, though. She has a small farm in the New Forest with a herd of cattle, so she serves up a steak and kidney pie made with her own beef.
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I know it sounds trite but I wanted to make a difference. Political debates with my father had been fraught because he was uncompromising and explosive but if he taught me one thing it was to air my views.
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Quite apart from the problem of the vote, it's bad for the image of Parliament that people take the trouble to come up and are not allowed to see their MP.
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Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.
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In my job I meet many outstanding, world class, British based companies. But we need more companies and more jobs in the companies we have.
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Banks operate like a man who either wears his trousers round his chest, stifling breathing, as now, or round his ankles, exposing his assets. We want their trousers tied round their middle: steady lending growth particularly to productive British business, especially small scale enterprise.
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When Gordon Brown becomes prime minister, the balance sheet that reflects his economic stewardship could look very sickly indeed. He could become Labour's biggest liability, not its most marketable asset.
Vince Cable