Cable: investors' expectations on bank returns are 'unrealistic'

In a speech to the Association of British Insurers (ABI) Cable rebuffed claims that British banks are "uninvestable" but said investors' expectations of returns was unworkable. The Telegraph reports he said: "There has been an assumption of returns that is hopelessly unrealistic in what are essentially utilities. There needs to be a realistic appraisal of what banks are and what they do." Cable blamed "bank bosses like Bob Diamond" for promising inflated returns and raising expectations. He also admitted there could be a conflict between what investors have expected and government ...