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
Financial
Recent
Rebuild
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

More quotes by Vince Cable

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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
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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
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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
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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.
Vince Cable
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According to the papers, I'm miserable, alienated, and on the brink of resignation. But that's simply not where I am.
Vince Cable
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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.
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.
Vince Cable
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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.
Vince Cable
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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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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.
Vince Cable
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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.
Vince Cable
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The Tories are now the party of rural areas and Labour essentially is in the big cities
Vince Cable
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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.
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.
Vince Cable
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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
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The worship of youth has diminished - perhaps generally - in recent years.
Vince Cable
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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
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The government increasingly resembles somebody who is trying to give the kiss of life to a corpse.
Vince Cable
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I am a bit of a lefty on some issues.
Vince Cable
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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