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Lord Lawson`s Son On Lord Turner
There is no case in favour of wait and see….by waiting we should have missed out on the great restructuring of the European economy and its trading patterns….to stay out now would be a terrible mistake.
Quote by: Lord Adair Turner
Quote made on: 2002
Quote Submitted by: David Snape
Source: Dominic Lawson of "The Sunday Times" (12/08/2012)
Editor's Notes
It seems possible that Dominic Lawson does not consider Lord Adair Turner to be his favoured candidate to replace Sir Mervyn King at the BoE.
In addition to the above, Mr Lawson went on to say: “Above all, we should not forget Turner`s obsessive proselytising for British membership of the euro while he was Director-General of the CBI. Given that the euro can be saved only by what Turner at the time described as the widely-held fallacy that the single currency requires a large central budget in Brussels, one might expect some humility: but that is not his style – and I doubt he sees the incongruity in applying for the job of printing billions of a currency he campaigned to abolish.”
Remind me not to get on the wrong side of Dominic Lawson.
(3 votes, average: 4.67 out of 10)
Loading ...Published on: August 14, 2012
Growth and Enterprise
…so that growth and enterprise are not stifled
Quote by: Vince Cable
Quote made on: 2006
Quote Submitted by: Financial Foot in Mouth
Source: Association of Foreign Bankers` spring luncheon
Editor's Notes
Vince Cable, commenting on Letwin`s proposals, said he also favoured light-touch regulation for markets, “…so that growth and enterprise are not stifled”. He returned to this theme in 2006, in a speech to the Association of Foreign Bankers` spring luncheon, warning of the dangers of excessive regulation of the City and favouring “a lighter touch”.
” Vince`s coalition colleague, Mark Hoban, does not appear to be so concerned about the perils of excessive regulation. In fact, addressing Parliament on 12 December 2011, he blamed the light touch approach of the previous government and spoke of the `gross failures’ of the regulatory regime.”
(3 votes, average: 6.00 out of 10)
Loading ...Published on: July 8, 2012
Rein Back the Financial Services Authority
Intrusive regulatory regime, (opining that the FSA was) increasingly a tool of the Treasury
Quote by: Oliver Letwin
Quote made on: July 2004
Quote Submitted by: Financial Foot in Mouth
Source: The Sunday Times
Editor's Notes
In July 2004, Oliver Letwin stated that an incoming Conservative government would abolish or rein back the Financial Services Authority (FSA) because of its “Intrusive regulatory regime”, opining that the FSA was, “increasingly a tool of the Treasury” which threatened to squeeze the life out of the City by over-regulating it.
It is interesting that, only a few short years later, light touch regulation is being seen as one of the primary reasons for our current economic woes. Indeed, the long-awaited report into the failure of the Royal Bank of Scotland was published in December 2011 and, principal among its causes, were `light touch regulation and a catalogue of financial errors’ (Daily Mail). Populist statements, either in government or opposition often come back to haunt politicians.
(3 votes, average: 6.33 out of 10)
Loading ...Published on: July 8, 2012
