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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
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
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.
Vince Cable
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
The economy has become seriously unbalanced. Its growth has not been driven by investment or by overcoming Britain's long-standing weaknesses in investment and productivity, particularly skills. Instead, there has been a binge of debt-financed consumer spending.
Vince Cable
I fear that the rising personal bankruptcies and repossessions are the first signs of bigger problems to come and personal debt - Gordon Brown's legacy to millions of Britain's families - will hang like a millstone around the neck of the British people for years to come.
Vince Cable
Billions of taxpayers' money has been wasted in bad deals. The London Underground modernisation, personally negotiated by one of Gordon Brown's team, was a disaster, as the National Audit Office has confirmed.
Vince Cable
Fundamental renegotiation is very, very unlikely to produce any significant change
Vince Cable
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
The worship of youth has diminished - perhaps generally - in recent years.
Vince Cable
On banks, I make no apology for attacking spivs and gamblers who did more harm to the British economy than Bob Crow could achieve in his wildest Trotskyite fantasies, while paying themselves outrageous bonuses underwritten by the taxpayer. There is much public anger about banks and it is well deserved.
Vince Cable
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.
Vince Cable
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
Britain is no longer one of the world's price setters. It is painful. It is a challenge to us in government to explain all that, and it is a pity that the political class is not preparing the public for it to understand how massive the problem is.
Vince Cable
The two policies that Ken Clarke is most famous for are his opposition to the Iraq war and being a very defensible and quite courageous pro-European. These are both policies he shares with us.
Vince Cable
Now the main areas of higher education that still enjoy considerable financial support from government are subjects like engineering and science and the research ringfence which is the basic minimum to protect Britain's scientific competitiveness.
Vince Cable
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.
Vince Cable
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.
Vince Cable
I've always been comfortable working with women and I've had two happy marriages. Draw what conclusions you like from that.
Vince Cable
I have managed to infuriate the bank bosses acquire a fatwa from the revolutionary guards of the trades union movement frighten the 'Daily Telegraph' with a progressive graduate payment and upset very rich people who are trying to dodge British taxes. I must be doing something right.
Vince Cable
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
