Vince Cable risks promoting another financial crisis
Vince Cable suggested on Sunday that the payment of bank bonuses and dividends should be linked to whether or not they lent more to businesses. It is not clear exactly what he meant and there was no substantive mention of this idea in the Green Paper that has now been published. He seems to be all at sea and one wonders whether his ambition is to promote another financial crisis.
A few years ago, the IEA published a very good book, Fifty Economic Fallacies Exposed. I am beginning to wonder if Vince Cable should be the subject of the next edition. At the current rate, his fallacies could fill a whole book within the year…
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