Wednesday, 22 September 2010
Vince Cable Howls at the Moon
But The Limp Dims have decided they need to throw some red meat to their activists at their party conference and with Nick Clegg away, Vince has seen his chance.
I note that his PR's took the chance to point out to the media the worst of his comments - such as capitalism destroying competition. It is hilarious that a Business Secretary would see fit to attack his constituents thus. Together with these nice general attacks, he continues the theme of attacking bankers blaming them for everything.
The first point is very badly made. Vince here is trying to suggest that he is against monopolies - in this case no doubt he means Rupert Murdoch buying Sky. Whilst it is of course correct that markets need regulation to keep them fair and open, to suggest that competition is a failure of capitalism is just nonsense. Vince clearly misses his own point here, as per usual. What is the alternative to competition? Our fantastically run schools, NHS and immigration services..
The second point on Bankers should have been jumped on by Downing Street. Yes bankers are to blame, no one likes seeing the 'bad' guys win. But others who failed are still around, Ed Balls, Mervyn King, Ben Bernanke - a whole list of the guilty. The fact that Adair Turner of all people, head of the hapless FSA who totally failed to regulate the UK mortgage market, should now be coming out in defence of bankers is hysterical.
The Government should really try and switch the narrative from blaming the banks, it shifts the true responsibility away from the last Government whose engineered credit boom won them an extra term in power to do damage.
That the Government is easy with Vince Cable coming out with this socialist much reflects badly on them and he should be slapped down or the text heavily edited before he reads it out this afternoon. If Vince can't lie with that then he should resign. Politicallym he can do damage from the back benches, but at the moment he is actually in charge of a department and there cannot be much faith that he is doing a good job.