Quote

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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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.
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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The Tories are now the party of rural areas and Labour essentially is in the big cities
Vince Cable
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Fundamental renegotiation is very, very unlikely to produce any significant change
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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Where there is flagrant abuse of corporate entities we must and will seek to tackle it.
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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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.
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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I am a bit of a lefty on some issues.
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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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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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
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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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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
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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
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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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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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In my job I meet many outstanding, world class, British based companies. But we need more companies and more jobs in the companies we have.
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