As the economy was starting to appear unstable, just before the crash, we went to a business lunch in Bristol where Vince Cable was to make an after dinner speech.
My recollection is that it was late 2007. It was a very well thought through talk on the state of Britain’s economy peppered with warnings.
As he spoke the diners at the table behind us started to mutter unpleasantly about Vince and sofly heckle, quite rudely. We knew who they were – bankers – several from Barclays. I say bankers because most were just clerks that had served long enough to be given the title of manager.
So, in 2008, we had the crash. LibDems went into co-alition and bankers, themselves, came under scrutiny. All, that is, except for Barclays. We all knew at the time that they were being very friendly with Qatar rulers and, when all other banks were in finacial meltdown, being baled out or even ‘nationalised’ by the Tories, Barclays escaped scrutiny being able to demonstrate financial prudence.
So, Vince, just as you ask for a vote to become the LibDems’ new leader this week, Barclays Bank itself and four former executives have been charged with fraud over their actions in the 2008 financial crisis.