Cable: banks need surgery

first_img Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap whatsapp Tags: NULL BUSINESS secretary Vince Cable emerged from a long period of keeping a low profile yesterday to condemn large bank bonuses as “offensive” and to call for “fundamental surgery” on the industry.Having stayed out of the limelight since December when he was recorded saying he had “declared war” on Rupert Murdoch, he has returned to his campaign against banks.Asked about the possible break-up of investment and retail banking, he said: “There needs to be fundamental reform. There will have to be change and it will have to be radical.”“What we should notice at the end of (banking reforms) is the banks are more competitive and that they are safer and that they are not making large excess profits which then fuel the bonus culture,” he said. His attack on banks days after the Merlin deal was launched could put him on a collision course with the Treasury. Sunday 13 February 2011 11:46 pm Share whatsapp Show Comments ▼ Cable: banks need surgery KCS-content last_img

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