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Cable Attack. Bankers are To Blame


Joined
Sep 5, 2009
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Just listened to Vince Cable's speech, Lib Dems, to their conference. Absolutely spiffing!

If only we had the like here in Ireland. Someone not afraid of attacking the banks. Of calling on bankers to cut the bonuses and golden handshakes, the gambling and the huge hidden profits. Of backing small businesses, not breaking them.

If you get a chance, listen. It's brilliant.
 
Joined
Sep 5, 2009
Messages
1,757
Just listened to Vince Cable's speech, Lib Dems, to their conference. Absolutely spiffing!

If only we had the like here in Ireland. Someone not afraid of attacking the banks. Of calling on bankers to cut the bonuses and golden handshakes, the gambling and the huge hidden profits. Of backing small businesses, not breaking them.

If you get a chance, listen. It's brilliant.
I would give you a link to his speech if I knew how lads and ladeens, but I can't but really, really, he knocks the bankers and money markets brilliantly. Can anyone help me out here and do a link. Was on Sky News full speech when I saw it this am, about 12pm
 

grassroots

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Jan 7, 2007
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Vincent will be the first cabinet minister to resign when his pet project of brekaing up the banks is knocked on the head. If the UK tries to do that, the Banks will move their HQs overseas and take their profits with them.
 

spotty

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Apr 23, 2010
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Fianna Fáil and the Liberal Democrats are sister parties, working together for a shared vision at the European level. Like us, they are dealing with an economic headwind and an extremist party sharing the cabinet table with them. Vince Cable is the UK's Brian Lenihan, and Brian Cowen is our Nick Clegg.
 

DCon

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May 5, 2009
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I would give you a link to his speech if I knew how lads and ladeens, but I can't but really, really, he knocks the bankers and money markets brilliantly. Can anyone help me out here and do a link. Was on Sky News full speech when I saw it this am, about 12pm
Is this it?

The Banks

But economic recovery will not happen automatically, by magic. Government has a key role. It has to sustain demand. That is basic Keynes. Liberal economics also requires us to remove obstacles to growth led by private enterprise. Among them is the threat to recovery from a credit squeeze by banks on small businesses.

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.

But I am not seeking retribution. We have a pressing practical problem: the lack of capital for sound, non property, business. Many firms say they are already being crippled by banks’ charges and restrictions.

The Chancellor and I have set out a range of sticks and carrots to get banks to support the real economy. Tough interventions will be needed if capital which could be used to support business lending is frittered away in bonuses and dividends.

The Coalition Agreement was crystal clear, too, that the structure of banking must be reformed to prevent future disasters and promote competition. Our agenda can be summed in seven words: make them safe and make them lend. I agree with Mervyn. We just can’t risk having banks that are too big to fail.
Vince Cable's speech to Conference | The Liberal Democrats: Latest News Detail

He is beating the "knowledge economy" drum too. I thought Ireland Inc had a copyright on that.
 
Joined
Sep 10, 2010
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Fianna Fáil and the Liberal Democrats are sister parties, working together for a shared vision at the European level. Like us, they are dealing with an economic headwind and an extremist party sharing the cabinet table with them. Vince Cable is the UK's Brian Lenihan, and Brian Cowen is our Nick Clegg.
Have you told the Lib-Dems about this arrangement yet?
 

'orebel

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Nov 13, 2009
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grassroots

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Jan 7, 2007
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Vincent is as big a nutter as his TV3 namesake. I suppose the next wheeze will be a 5 year plan to get credit flowing. He aint no Brian Lenihan!
 

zippo222

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Joined
Nov 7, 2009
Messages
3,784
Fianna Fáil and the Liberal Democrats are sister parties, working together for a shared vision at the European level. Like us, they are dealing with an economic headwind and an extremist party sharing the cabinet table with them. Vince Cable is the UK's Brian Lenihan, and Brian Cowen is our Nick Clegg.

It's getting very tedious Spotty. It really is. The same joke over and over again.
 
Joined
Sep 10, 2010
Messages
17
Just listened to Vince Cable's speech, Lib Dems, to their conference. Absolutely spiffing!

If only we had the like here in Ireland. Someone not afraid of attacking the banks. Of calling on bankers to cut the bonuses and golden handshakes, the gambling and the huge hidden profits. Of backing small businesses, not breaking them.

If you get a chance, listen. It's brilliant.
Perhaps the main reason we don't 'have the like here' is all them brown envelopes, like, allegedly ;)
 
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1,757

clonycavanman

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Nov 30, 2008
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656
Cable's frustration and our bewilderment

In Britain, one does have to ask, why do average Goldman Sachs personel pocket (I think it was) about half a million each as bonuses, when Sheffield Steelmasters (make things that might be useful) needs ( and fails) to borrow from the government?
What is the economic environment which enables clever people in investment Banks to become millionaires and clever people in manufacturing to be merely moderately well-off? Are the right things being rewarded?

In Ireland Brian Lenihan and officials found time to meet, in the first ten months of 2009, representatives of over twenty foreign financial bodies [serving the interests of their shareholders, their expenses submissions will have read ]. What chance he received good advice from that quarter? In the heat of a crisis, that was quite an exposure to the views of nakedly self-seeking special interest groups.
Lenihan met over 20 foreign financial bodies this year

Is is possible good government will eventually require doing things that investment banks disapprove of?
 
Joined
Sep 5, 2009
Messages
1,757
In Britain, one does have to ask, why do average Goldman Sachs personel pocket (I think it was) about half a million each as bonuses, when Sheffield Steelmasters (make things that might be useful) needs ( and fails) to borrow from the government?
What is the economic environment which enables clever people in investment Banks to become millionaires and clever people in manufacturing to be merely moderately well-off? Are the right things being rewarded?

In Ireland Brian Lenihan and officials found time to meet, in the first ten months of 2009, representatives of over twenty foreign financial bodies [serving the interests of their shareholders, their expenses submissions will have read ]. What chance he received good advice from that quarter? In the heat of a crisis, that was quite an exposure to the views of nakedly self-seeking special interest groups.
Lenihan met over 20 foreign financial bodies this year

Is is possible good government will eventually require doing things that investment banks disapprove of?
You see there you have it CCMan says it all in one sentence. That is what I believe will have to happen. I just don't know if it's possible. Is it?
 

Sync

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Aug 27, 2009
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28,845
It was a good speech, but he's not a lunatic. He knows that while the UK can lead this charge, they can't go first. It has to be a united front by the main banking nations or else it's not a runner.
 

sandar

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Joined
May 26, 2007
Messages
1,854
Fianna Fáil and the Liberal Democrats are sister parties, working together for a shared vision at the European level. Like us, they are dealing with an economic headwind and an extremist party sharing the cabinet table with them. Vince Cable is the UK's Brian Lenihan, and Brian Cowen is our Nick Clegg.
my great political love is the lib dems#my great political loathing is Fianna Fail,

you have no idea how different in outlook the parties are. #

Look at the Lib Dem princiapls and manifesto.

Vince wont be resigning.
breaking up the banks can be done in a way which wont cause mass desertion overseas if its negotiated properly, soemthing which is being worked on
 

beamish2010

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Mar 7, 2010
Messages
488
It's a pity that Brian Lenihan is not like Mr Cable,but unfortunately Lenny is
too well in it with the merchant bankers of this country.
 
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