Right from the start, it was obvious that Royal Mail was sold off far too cheaply. The papers were full of stories about which wealthy insiders profited from ‘advising’ Cable about the right price at which to sell Royal Mail shares. They’ve been sold, snapped up, exploited and passed around, and Vince Cable has dismissed critical comments as “froth.” Now a parliamentary committee has had the chance to evaluate how good a deal it was, and they’re not impressed. Just about £1 billion short of what it should have made, but not to worry. We can make that up by cutting more benefits, legal, that sort of thing. So long as the City are happy.