onsdag den 22. september 2010

Finally some liberal democratic common sense: Cable, Lib Dem Business Secretary of the Great Britain, to shine light on 'murky corporate world', rigged markets, cartels and monopolies etc.

Link: http://uk.news.yahoo.com/4/20100921/tuk-cable-to-shine-light-on-murky-corpor-dba1618.htlm

Cable to shine light on 'murky corporate world'

Today, 12:19 am


Business Secretary Vince Cable is set to attempt to soothe Liberal Democrat anxiety over a lurch to the right by launching an attack on unfettered capitalism. Skip related content

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Announcing a wide-ranging probe into "murky" corporate activities, Mr Cable is to condemn markets as "often irrational or rigged". He will also insist that unrestrained capitalism "kills competition".

The tough comments may reassure Lib Dem activists who have been questioning the compromises leader Nick Clegg made in order to forge the coalition with David Cameron.

But they could also make life difficult for Mr Cameron, as Conservative traditionalists are similarly concerned that they are being dragged to the left on issues such as replacing Trident.

As the Lib Dem conference in Liverpool draws to a close, Mr Cable will use his speech to announce a consultation starting next month to cover issues surrounding takeovers, executive pay and corporate short-termism.

"The principle of responsible ownership should apply across the business world," he will tell party members. "Let me be quite clear. The Government's agenda, is not one of laissez-faire. Markets are often irrational or rigged. So I am shining a harsh light into the murky world of corporate behaviour."