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"Vince Cable will tomorrow launch an aggressive attack on capitalism with a speech that warns that the current system "takes no prisoners and kills competition where it can". In an echo of Denis Healey's famous 1974 pledge to "squeeze property speculators until the pips squeak", Cable will unveil plans to shine a "harsh light into the murky world of corporate behaviour".
The business secretary will announce the launch of a major consultation on takeovers and executive pay, with the intent of ending "corporate short-termism".
"Let me be quite clear," Cable will tell the Liberal Democrat conference in Liverpool. "The government's agenda is not one of laissez-faire. Markets are often irrational or rigged."
The business secretary plans to identity the sort of malpractices that are causing harm to the wider economy. "Why should good companies be destroyed by short-term investors looking for a speculative killing, while their accomplices in the City make fat fees? Why do directors forget their wider duties when a fat cheque is waved before them? Capitalism takes no prisoners and kills competition where it can," he will say..."
http://www.guardian.co.uk/politics/2010/sep/21/vince-cable-banks-bonuses-pay
Makes sense, but he'll never hear the end of it; he might as well let slip the word 'subspecies'.
The business secretary will announce the launch of a major consultation on takeovers and executive pay, with the intent of ending "corporate short-termism".
"Let me be quite clear," Cable will tell the Liberal Democrat conference in Liverpool. "The government's agenda is not one of laissez-faire. Markets are often irrational or rigged."
The business secretary plans to identity the sort of malpractices that are causing harm to the wider economy. "Why should good companies be destroyed by short-term investors looking for a speculative killing, while their accomplices in the City make fat fees? Why do directors forget their wider duties when a fat cheque is waved before them? Capitalism takes no prisoners and kills competition where it can," he will say..."
http://www.guardian.co.uk/politics/2010/sep/21/vince-cable-banks-bonuses-pay
Makes sense, but he'll never hear the end of it; he might as well let slip the word 'subspecies'.
