Mr Cable is nasty about Virgin and Northern Rock sharebuyers

Why does Mr Cable want to wreck any proposal to solve the Northern Rock crisis? Today he sought to belittle the Branson bid, telling people it was unlikely to go ahead. I won’t repeat what he said about the risks to the taxpayer as the statement was unacceptable. He also accused sharebuyers of being “spivs and sharks” and said he wanted to stop any shareholder, big or small being able to sell shares any more by suspending them in the market!

Mr Cable’s shrill interventions are not going to win the Lib Dems any friends amongst the business community, and will put off anyone who cares about the small shareholders, depositors and taxpayers caught up in the Northern Rock crisis. If Leader Clegg (or Huhne if there is a late swing) has any sense he will terminate Cable’s role as Treasury spokesman before he is allowed to do much more damage.

This entry was posted in Blog. Bookmark the permalink. Both comments and trackbacks are currently closed.

One Comment

  1. apl
    Posted November 26, 2007 at 9:34 pm | Permalink


  • About John Redwood

    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

  • John’s Books

  • Email Alerts

    You can sign up to receive John's blog posts by e-mail by entering your e-mail address in the box below.

    Enter your email address:

    Delivered by FeedBurner

    The e-mail service is powered by Google's FeedBurner service. Your information is not shared.

  • Map of Visitors

    Locations of visitors to this page