Vince Cable: finance's friend?

Posted by admin in Strategy & Planning on Tue, 23/02/2010 - 12:04
  • Liberal Democrats are not out to destroy the financial system, says Vince Cable. But there are harsh words for the UK's fiscal status quo.
The Liberal Democrats are not the anti-finance party. That was the message from Vince Cable as he outlined his party's plans for overhauling the UK financial system.    “The Liberal Democrats are not anti-bank or anti-banker. We recognise that some banks and bankers emerge with credit from this crisis – HSBC, Standard Chartered, the Co-op Bank and some, but not all, mutuals led by Nationwide,' he declared, but added: “There has been a massive heart attack in the banking system.

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What are your top business challenges today?

2009-08-12 14:53 - 7871 reads
Getting through to 2H 2010
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The Bottom Line:If Mr Cable has his way...

"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more

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