The degree of leverage now being reversed is staggering, and the underlying global imbalances - notably between the savers and the spenders - will require long and painful adjustment.
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It's a tax-cutting measure and we should have made that clearer.Vince Cable
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Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional business and retail lending activities as banks try to rebuild their balance sheets. This was one aspect of modern financial liberalisation that had dire consequences.
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Based on Keywords: adjustment, imbalances, leverage, notably, reversed, savers, spenders, staggeringOn Capitol Hill, House Republicans have been doing our part. We've been hard at work developing policies that will help empower all Americans. We're beginning to see results. We reduced taxes for everyone.
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I can prove anything by statistics except the truth.
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