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
Aspect
Activities
Lending
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

More quotes by Vince Cable

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Taxes shouldn't be higher they should be fairer. We must be a party that's disciplined. We must make tough choices.
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I clearly believe a lot more than some of my coalition colleagues - Tories - in redistribution and using the tax system for that purpose. I also believe in the government having an active role in the economy, which is having an industrial strategy. I'm not a believer in laissez-faire.
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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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The Tories are now the party of rural areas and Labour essentially is in the big cities
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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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Fundamental renegotiation is very, very unlikely to produce any significant change
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If the pendulum swings, it may swing to a combination of Conservatives and Liberal Democrats and, thus, to a period of minority government or coalition, in some form.
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My college, Fitzwilliam, was pretty good but unfashionable and I lived in digs so I was not part of the cloistered 'old college' environment, which frankly was a bit intimidating. But I worked hard and settled in by exploring politics and girls.
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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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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.
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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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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.
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Where there is flagrant abuse of corporate entities we must and will seek to tackle it.
Vince Cable
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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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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
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We have sectors of the economy, aerospace is a good example, where Britain's probably the second country in the world, the automobile sector, where we've done extraordinarily well, an enormous amount of investment over the last couple of years, life sciences is another.
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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.
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The food in the House of Commons is fairly good. The cafe in Portcullis House is really very high quality, and you also have a choice of eating in the more traditional restaurants, the Churchill Room or the Members' Dining Room. I don't often eat in them, though, as I'm usually on the run.
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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.
Vince Cable
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I don't feel comfortable with luxury, and I try to stay fairly normal.
Vince Cable