Vince Cable Quotes (16 quotes) | Quotes of famous people

Vince Cable: 16 quotes 0 likes

Famous Vince Cable Quotes

“The destruction of the British building society movement – or much of it – in the two decades after the late 1980s … was one of the great acts of economic vandalism in modern times. And the commercial banks largely abandoned locally based relationship banking in the decade before the recent financial crisis. There is now no institutional structure in place to offer countercyclical lending, particularly small and medium sized businesses, in place of the banks.”

Vince Cable

Comments on demutualisation of Building Societies http://www.libdemvoice.org/vince-cable-centre-forum-speec-29033.html, 18 June 2012.
2012

“These masters of the universe must be tamed in the interests of the ordinary families whose jobs and livelihoods are being put at risk… The Tories won't say anything about the current crisis as they are completely in the pockets of the hedge funds.”

Vince Cable

Comment's on hedge funds http://blythvalleylibdems.org.uk/news/000037/hbos_brought_to_its_knees_by_hedge_funds_hunting_in_a_pack__cable.html, 17 September 2008.
2008

“The House has noticed the Prime Minister's remarkable transformation in the past few weeks from Stalin to Mr. Bean, creating chaos out of order, rather than order out of chaos.”

Vince Cable

House of Commons' Hansard http://www.publications.parliament.uk/pa/cm200708/cmhansrd/cm071128/debtext/71128-0003.htm#71128-0003.htm_spnew0, 28 November 2007.
2007

“The Robert Mugabe school of economics”

Vince Cable

Context: The big, looming, monetary issue is "quantitative easing": that is, printing money. What happens is that the government borrows from the Bank of England, not from the markets. It expands the money supply to keep the economy going and also to counter deflation without simultaneously increasing government debt. The attractions are obvious, as are the dangers. 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. Monetary easing may prove to be necessary but will have to be managed with great skill and care: Too little easing and the crisis drags on – as in Japan. If there is too much, the authorities face the messy task of mopping-up liquidity by issuing bonds which add to the burden of borrowing or else we lurch back from deflation to inflation. So interest rates may soon become yesterday's story.

“We have to be careful of Vince Cable, he's extremely sharp and clever. In fact, he's almost as sharp and clever as he thinks he is.”

Vince Cable

An anonymous Conservative aid quoted on Newsnight http://news.bbc.co.uk/1/hi/programmes/newsnight/8686818.stm.
About

“We're being held to ransom by these pinstripe Scargills…”

Vince Cable

Said about bankers during the chancellors debate http://blogs.telegraph.co.uk/news/willheaven/100031975/ask-the-chancellors-live-darling-osborne-and-cable-debate/ on 29 March 2010.
2010