Is Hague a solution?

There seems to be a solution floating around that might give David Cameron a solution to the Osborne affair.

This from Patrick Hennessey at Three Line Whip

A Labour MP with close links to the Gordon Brown camp has just got a little ahead of himself, speculating about possible successors to George Osborne if the shadow chancellor is forced out.
He told me William Hague was the "name Labour fear." This exactly echoed a line I first heard from Labour in 1997 when the Tories were choosing a successor to John Major. At the time I was told - it might even have been by Peter Mandelson - that Kenneth Clarke was the "name Labour feared." I didn't believe it.

Whilst at Boulton and Co,Jon Craig is thinking the same

Since Dave became Tory leader, I've always thought William Hague would make a better Shadow Chancellor than George Osborne.
In recent weeks, George has struggled against a more assured Alistair Darling on the credit crunch. Last year's inheritance tax triumph now seems like a distant memory.
And now George's dodgy judgement in August, accepting lavish hospitality in a millionaires' playground on a sun-kissed Greek island has landed the Conservative Party in a right old stifado.
So now's the time for Cameron to dump his Bullingdon Club mate George and make Hague, whose talents are wasted as Shadow Foreign Secretary, his Shadow Chancellor.