A PARTY TURN.

Vinty was at it again this week, slanging our banks, arousing the 'left's state control instincts at the Lib Dem conference. In many respects we could agree with the criticism of the banks, what is being left out of this discussion, however, is the part of the previous Government in the debacle. We have pointed out before in these columns, that unless Incapability Brown was completely ignorant of the situation he was creating by introducing the Financial Services Authority, as described previously. This acted as a fire wall between the money markets and the Bank of England. Allowing the banks to be fast and loose with non- existent funds. This was obvious by early twenty first century, and Vince Cable was nowhere in sight when the writer was pointing out to his bank, that the money being loaned was nothing more than a 'Scotch mist'. Brown, the economic neophyte, was happy to rake in the stamp duty from inflated property prices, plus the VAT on credit driven sales, where much of debt was not met. I'm sure we know what happened next.

At no point am I defending the banks; however, we could walk into a trap if we ignore the fact that 'The City' is the backbone of the economy. Should we introduce laws separating the High Street banks from their investment arms, they will either move abroad, or be picked off by foreign banks.

Nowhere did Vince Cable come up with solutions; pulling faces is not enough.


DON'T GIVE CABLE TOO MUCH SLACK.