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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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Vince Cable
Age: 81
Born: 1943
Born: May 9
British Politician
Economist
Politician
Jórvík
John Vincent Cable
Vincent Cable
Governance
Banks
Shown
Leading
Abuse
Weak
Lamentably
Responsibility
Systemic
Take
Regulators

More quotes by 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.
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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Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.
Vince Cable
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I am a bit of a lefty on some issues.
Vince Cable
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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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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
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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.
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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I've always been comfortable working with women and I've had two happy marriages. Draw what conclusions you like from that.
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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We need a new British business bank with a clean balance sheet and an ability to expand lending rapidly to the manufacturers, exporters and high-growth companies that power our economy. Today I can announce we will have one.
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 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
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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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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
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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
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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
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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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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
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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