Not just nasty; downright vicious: Tory support for vulture funds

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Vulture fund bill under threat from Tory backbencher | Business | .

The Tories are rightly known as the nasty party.

But I'm not really sure that's an adequate description. Vicious would be better. Take this example:

Legislation to protect some of the world's poorest countries from being sued by rapacious "vulture funds" in UK courts risks being scuppered tomorrow, after a Conservative backbencher tabled a last-minute amendment.

The private members' bill, sponsored by Labour MP Andrew Gwynne, has won the support of both the government and the Conservative front bench. However, its supporters fear that with parliamentary time severely limited, the amendment, from Skipton MP Philip Davies, could prevent the bill reaching its third reading tomorrow, leaving it little chance of passing before a general election.

Vulture funds buy up the debts of poor countries, often at a fraction of their face value, and pursue them through the international courts, in many instances despite agreements by other creditors to give the country debt relief.

Davies' amendment is aimed at stopping the bill applying to past judgments - an issue its sponsors believed they had resolved in parliamentary committee.

Campaigners are keen for the legislation to apply retrospectively, because it could help countries such as Liberia, which lost a $20m (£13m) case in London against two vulture funds late last year. Liberian president Ellen Johnson Sirleef has urged parliament to pass the new law.

A Tory goes out of his way to help corruption and abuse that exploits the poorest people on earth.

Where is David Cameron shouting No! Where are the whips telling him to back off? They're not to be seen.

This is the true Tory at work - an enemy of the poor, a friend of the abuser.

Heaven help us if they get anywhere near power.

The corrupt, the powerful and the elites would prosper. For the rest - well, what do the Tories care?

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