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
Modern
Investment
Sheets
Casino
Trying
Traditional
Banks
Casinos
Years
Consequence
Gambling
Dragged
Financial
Recent
Rebuild
Aspect
Activities
Lending
Activity
Scale
Retail
Balance
Scales
Losses
Loss
Massive
Banking
Resembled

More quotes by Vince Cable

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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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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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I don't feel comfortable with luxury, and I try to stay fairly normal.
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I've always been comfortable working with women and I've had two happy marriages. Draw what conclusions you like from that.
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These 'masters of the universe' must be tamed in the interests of the ordinary families whose jobs and livelihoods are being put at risk. The Tories won't say anything about the current crisis as they are completely in the pockets of the hedge funds.
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The degree of leverage now being reversed is on a staggering scale, and the underlying global imbalances – notably between the savers and the spenders – will require long and painful adjustment.
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No, and in fact I get a bit frustrated, because I'm actually quite good at one-liners, and I've had hundreds of them over the years, and they sink without trace, and I get very frustrated. Every party conference I really work on the speeches, and I always have two or three things I'm quite proud of, and no one ever remembers them.
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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.
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And humility in politics means accepting that one party doesn't have all the answers recognising that working in partnership is progress not treachery.
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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 House has noticed the Prime Minister's remarkable transformation in the past few weeks, from Stalin to Mr. Bean.
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I think what is happening is I think first of all there is confidence in the U.K. economy. We're in a German rather than a Greek position in international financial markets, which is very positive and keeps our debt service costs down, and we're also beginning to see real evidence of rebalancing.
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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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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
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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.
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There was, of course, a global financial crisis. But our Labour predecessors left Britain exceptionally vulnerable and damaged: more personal debt than any other major economy a dangerously inflated property bubble and a bloated banking sector behaving as masters, not the servants of the people.
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The fact that John Prescott is being paid large sums of money to do little or nothing adds to the general malaise surrounding this government and the feeling that ministers are incapable of tackling serious issues.
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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.
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I made friends with a boy who was a communist when I was 13 and that broadened my political views, but it also brought me into conflict with my father who was very Right-wing.
Vince Cable
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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.
Vince Cable