Vince Cable asked should a bank have been allowed to go under said…
“When the Northern Rock crisis broke, my view was that that probably should have been what happened – the government should have rescued the depositors and let the bank go. That was how I responded to it for precisely the reasons you implied.”
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John Higginson of the Metro explains Quantitative Easing:
“There is £100 and 100 loaves of bread costing £1 each. QE creates another £100. Each loaf now costs £2.”
Maybe if they really wanted to “decontaminate the Labour brand” with business people, they shouldn’t have totally buggered up the economy?
Just a thought.
Great comment too: http://iaindale.blogspot.com/2009/11/in-conversation-with-vince-cable.html#c7343388963968798041
Simon Gardner said…
“Vince Cable.
He just so gets on the tits of Tories.
Hooray!”
Oh, and “First”"
Crap as usual from Gardner, the little dyke.
i thought he said something different, he favoured full nationalisation at the time…
“Why should taxpayers’ money be used to help Richard Branson, or whoever eventually acquires Northern Rock?’ asked Vince Cable, shadow chancellor for the Liberal Democrats.
Cable says ‘the least worst option’ would be to nationalise Northern Rock to safeguard taxpayers’ money, and then to sell the bank on in due course.”
- The Guardian, Sunday 18 November 2007
Vince Cable, flip-flopping on the best approach to take? I’m shocked, shocked.
I would willingly trade George Osborne for Vince Cable,and indeed may very well do so when the transfer window opens in January.
And that is a cast iron guarantee
Well I’m sure Cable was first to propose nationalisation.