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Vince Cable, deputy leader of the Liberal Democrats, acknowledged the need for action but said the taxpayer should not take on the risks and losses of the banks.
"They've come here because Cambridge is now a world leader in technology science, " Dr Cable told us.
After two and a half decades as a popular talk-show host, Winfrey will be making the risky transition from daytime leader to network co-owner and cable host come 2011.
The report comes as other Liberal Democrat policies come under scrutiny, with party leader Nick Clegg and Business Secretary Vince Cable apologising for breaking their party's pledge to oppose increasing student tuition fees.
It might not help that the Lib Dems' loudest critic of Rupert Murdoch is not their leader but the business secretary, Vince Cable (who last year indicated to undercover journalists that he wanted to block News Corporation's now-aborted bid to buy the chunk of BSkyB that it does not already own).
Aides to deputy prime minister, and Lib Dem leader, Nick Clegg, who unlike Mr Cable saw a copy of the speech before it was released, said he was "proud" of the work both he and Mr Cable had done on the coalition's "sensible" immigration policy.
In that sense, Mr Cable seems to be closer to Labour's leader, Ed Miliband, who is also pushing for such a bank - he calls it a British Investment Bank- than to George Osborne.
Mr Cable has reportedly spoken several times via telephone to Labour leader Ed Miliband since the coalition came to power.
Yet there are signs of recovery in the polls, for which Mr Clegg can thank not only the government's woes but also Vince Cable, the treasury spokesman who served as an interim leader.
ECONOMIST: How far can Nick Clegg take the party he now leads?
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