Banks ‘com­pla­cent’, says Lib Dem leader

The Sunday Post (Inverness) - - Politics -

bank­ing sys­tem have not been held to ac­count; Fred Good­win is just one ex­am­ple. Un­til the re­cent Bar­clays case, most of the peo­ple in­volved had walked away.”

Sir Vince, Busi­ness Sec­re­tary be­tween 2010 and 2015, said his Tory coun­ter­parts were “not ea­ger” to hold bankers re­spon­si­ble for the cri­sis.

He ex­plained: “We wanted to see more rad­i­cal ac­tion than they were com­fort­able with. The Tories were much closer to the bank­ing in­dus­try than we were, much more likely to apol­o­gise for it.

“They tried to shift all the re­spon­si­bil­ity on to bud­get deficit rather than ac­knowl­edge the un­der­ly­ing prob­lem was the bank­ing cri­sis. It has in­duced quite a lot of po­lit­i­cal cyn­i­cism.

“Ten years af­ter the cri­sis, liv­ing stan­dards are no higher than they were be­fore and there is the sense that the peo­ple who caused the prob­lem have walked away and that has fed a sense of dis­il­lu­sion­ment.”

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