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Thread: Cable slams City 'Spivs and Gamblers'

  1. #1
    soloman Guest

    Cable slams City 'Spivs and Gamblers'

    Vince Cable has launched a searing attack on the City "spivs and gamblers" who crippled the British economy as he rounded off the Liberal Democrats' first conference in power.

    Do you agree?

    While I agree with his motive, I am not convinced this is the best way to 'air' the subject!

  2. #2
    Midas Guest

    Re: Cable slams City 'Spivs and Gamblers'

    Quote Originally Posted by soloman View Post
    Vince Cable has launched a searing attack on the City "spivs and gamblers" who crippled the British economy as he rounded off the Liberal Democrats' first conference in power.

    Do you agree?

    While I agree with his motive, I am not convinced this is the best way to 'air' the subject!
    I don't think anyone can honestly disagree with at least some of what he says, however I'd agree with you that the way he brought the matter up in the conference will do nothing to boost the confidence of much of British industry at a time when it really needs encouragement, not criticism.

  3. #3
    Major Sinic Guest

    Re: Cable slams City 'Spivs and Gamblers'

    Quote Originally Posted by soloman View Post
    Vince Cable has launched a searing attack on the City "spivs and gamblers" who crippled the British economy as he rounded off the Liberal Democrats' first conference in power.

    Do you agree?

    While I agree with his motive, I am not convinced this is the best way to 'air' the subject!
    My first reaction was a sense of anger and injustice that he was attacking people like me! Then I realised that he wasn't.

    His attack wasn't directed at Centrica, Morrisons, Vodaphone, Diageo, GKN, or the smaller companies in the FTSE 350 or on the AIM market, nor the thousands of honestly and effectively run private enterprises of varying size, such as I used to own. Indeed I sensed he recognised that if anything such organisations, their executives, directors and shareholders were no more to blame for our economic situation than the average employee, and were suffering in proportion. I believe his attack was directed very pointedly at the 'square mile' and specifically at the investment banks, private equity companies and secretive hedge funds and a recognition that these organisations and the people running them are driven totally by short term goals, contribute nothing in terms of wealth creation, to the organisations which they manipulate, nothing to society as a whole, rather that they drain and abuse the commercial sectors' resources and compromise its ability to grow and create wealth.

    Increasingly even those such as I, certainly to the right of centre, recognise that these orgnisations and their directors and executives are directed primarily by greed and self-interest, and are often dishonest, incompetent, arrogant and devoid of integrity. Whether the trade union movement with its own brand of arrogance, greed, self interest and lack of integrity are potentially as damaging is a moot point.

    I suspect that Vince Cable is Cameron and Cleggs rottweiler, and I for one would be very tempted in this particular area, to let him off the leash.

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