While Labour knighted Fred the Shred, Vince Cable was calling for an end to casino banking

Commenting on Ed Miliband’s speech on banking, Liberal Democrat Treasury Spokesperson, Stephen Williams said:

“The Liberal Democrats have called for banking reform for more than 10 years. While Labour knighted Fred the Shred, Vince Cable was calling for an end to casino banking.

“The Coalition will have done more for a diverse banking sector in five years than Labour did in 13 years; we need not take any lessons from Ed Miliband on this.

“We are separating high street and casino banking, making it easier for new banks to set up and thoroughly investigating the Libor scandal and need for professional standards in the industry.

“I am glad that Ed Miliband has joined my call for a more ethical and professional banking industry.”