Bursting the Vince Cable bubble

In yesterday’s ‘The World at One’, Martha Kearney interviewed David Rule [as I posted HERE], London-based chief executive of the International Securities Lending Association.

Here’s what David Rule said in answer to Martha’s questions about the concerns over ‘short selling:

“Vince Cable needs to think a bit harder about .. [banning short selling of shares]

“We mustn’t be hasty here, and jump to ill-thought through responses based upon people’s diagnosis of what’s happened, which themselves may not based upon the underlying facts.”

Ouch!

Guido has a low opinion of Vince Cable, believing him to be over-rated. He may be an economist, but that doesn’t make him a city trader, banker, or finance expert. It’s bee said many times before, put 10 economists in a room together, ask them a question, and you’ll get 15 different answers.

UPDATE:

John Redwood also questions Vince Cable’s knowledge of the financial markets.

One thought on “Bursting the Vince Cable bubble

  1. Pingback: Reflections on today’s WATO « Lightwater

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