A sweeping and utterly typical performance from Vince Cable in his interview with the
Times (£) today. Not only does he plunge his teeth into the exposed flesh of the bankers (criticising them
for their “special pleading” over banking reforms), but he also offers another overarching diagnosis of the British economy (there won’t be a repeat of 2008’s financial crisis, he says,
in case you were wondering, but slow growth could be a problem). I feel like a spoilsport for pointing out that, only four months ago, the Business Secretary was actually warning that
“you can see” another financial crash happening.
But aside from Cable’s fiery rhetoric, it’s worth noting that his demands are now more restrained than they have been. Last month, he was still conjuring up the prospect of a complete, Glass-Steagall-style separation between investment and retail banking.
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