Boy George: Do you really want to hurt me?

President Obama's decision to adopt Liberal Democrat policy on breaking up the banks has certainly caught the headlines. It should be remembered that Gordon Brown and Alistair Darling have consistently opposed moves against the banks when called for by Vince Cable. Now, they say, Obama's proposals are the best thing since sliced bread.

But the response of George Osborne is the most remarkable. Boy George claims to be at the forefront of this policy, suggesting Obama has come into line with the Tory position. This is of course the man who attacked Labour's weak regulation of the financial markets on the eve of the recession as being far too heavy. Even less regulation was needed, he claimed.

So are we really meant to believe that Boy George has completely uturned and become some kind of red rinse Tory? I find it a bit hard to swallow. I just can't believe they are going to take action against the banks that will hurt them.

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