British Tories Back Obama's Banking Policies

This is quite disconcerting.

Earlier today, Britain's Conservative Party called upon the Labour government to implement President Obama's policies towards its banks.

William Hague, the Shadow Foreign Secretary and former leader of the Conservative Party, said in the House of Commons that Britain should consider "some of the proposals of the US to sort out the banks in the future."

President Obama is seeking to punish the "big banks" with a levy on every loan they make regardless of whether they received TARP funds or not. I cannot see how this will lead to economic recovery as it discourages banks from making loans. The people that will be most adversely affected by this policy are small business owners.

This is hardly a policy the Tories should emulate.

Then again this isn't Margaret Thatcher's Conservative Party anymore. For that matter it isn't John Major's Conservative Party either.