Nov 22 2009
A Tale of Two [Vince] Cables
Vince Cable was, according to Socialist Economic Bulletin, “one of the first to call, rightly, for the nationalisation of Northern Rock.” Back then the Liberal Democrat Treasury Spokesman wrote in The Times;
The Government dithered for far too long before concluding that Northern Rock had to be nationalised.
And in December 2007…
Vince Cable, acting leader of the Lib Dems, told the BBC this morning that nationalisation was the “least worst answer” for the bank, which is currently “bleeding to death”. In a letter to the Prime Minister, Mr Cable has urged the Government to introduce a Bill in Parliament before Christmas to allow public ownership of the bank.
But now in Total Politics…
When the Northern Rock crisis broke, my view was that that [the banks going bankrupt] probably should have been what happened - the government should have rescued the depositors and let the bank go.
Bit different, isn’t it?
