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

Change background

T
T
T

Change font

TAGS & TOPICS

Vince Cable
Age: 81
Born: 1943
Born: May 9
British Politician
Economist
Politician
Jórvík
John Vincent Cable
Vincent Cable
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
Activity
Scale
Retail

More quotes by Vince Cable

Image
Regulators are a backstop: they don't own banks. The governance at the top of our leading banks has been shown to be lamentably weak. No one at the top of Barclays will take responsibility for systemic abuse.
Vince Cable
Image
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.
Vince Cable
Image
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.
Vince Cable
Image
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.
Vince Cable
Image
So I went into government with a clear mind about what the problems were, and what needed to be done.
Vince Cable
Image
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.
Vince Cable
Image
Many of our problems are home-grown. Gordon Brown regularly advised the rest of the world to follow his British model of growth. But the model was flawed. It led to the highest level of household debt in relation to income in the world.
Vince Cable
Image
The Tories are now the party of rural areas and Labour essentially is in the big cities
Vince Cable
Image
I've always been comfortable working with women and I've had two happy marriages. Draw what conclusions you like from that.
Vince Cable
Image
Taxes shouldn't be higher they should be fairer. We must be a party that's disciplined. We must make tough choices.
Vince Cable
Image
The worship of youth has diminished - perhaps generally - in recent years.
Vince Cable
Image
The real problem at the moment is that the banks - because of their existing culture, which is frankly anti-business, obsession with short-term trading profits, not focusing on the long term - are throttling the recovery of British industry.
Vince Cable
Image
The Robert Mugabe school of economics provides a salutary warning about uncontrolled monetary expansion in generating hyper-inflation. The road to Harare is not as long as we might hope.
Vince Cable
Image
When I was a child we were sufficiently well off for me to be a picky eater and I still cannot eat vegetables cooked in the traditional British manner.
Vince Cable
Image
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.
Vince Cable
Image
You can't win with some people. If you're not in government, you're criticised for being not serious. If you are in government, you're criticised for wanting power. That's the Labour party's line of attack, and it's a bit ridiculous.
Vince Cable
Image
Housing associations have fingered the fact that they cannot use their assets as liquidity due to Bank of England rules unlike their continental equivalents. This has emerged to be one of the main bottlenecks to getting investment going in the U.K. It is a Bank of England issue.
Vince Cable
Image
I am a bit of a lefty on some issues.
Vince Cable
Image
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.
Vince Cable
Image
Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.
Vince Cable