Thursday, 3 March 2011

What's The Point Of Vince Cable?

Vince Cable used to make big promises - but now, following his foolish need to impress two unknown young women, he's no longer taken seriously and largely retreated from the limelight. It's seems such an age away since he was touted as the "People's Chancellor".

But along the way, let's recall some of his hubris:

The Business Secretary said he would:

"Go to war" to stop Murdoch taking a bigger share in BSkyB TV. Ooops, that didn't work out well did it.

Force the nationalised banks to lend more to help the economy as he said "The state-owned banks have no excuses. They don't need to worry about their reserve ratios: they can't go bust, they are owned by the Government. There is no reason whatever they shouldn't be adopting expansive lending policies".
Erm, not much sign of that.

Break up the "casino banks" who were too big to fail.
Nope, not happening.

Curb the bankers' "ludicrously distorted" bonuses.
No, not managed that one either.

Called for public spending cuts to depend on the state of the economy "If there is strong recovery, then we should speed up the cuts, if not then we should wait".
The cuts are front loaded and the economy is shrinking.

Not to mention his flip flopping and finally selling out on tuition fees.

Vince Cable - what's the point?

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