Bill Buckley calling for government to impair contract obligations.

Bill Buckley, yes that Bill Buckley, says mortgage lending should have been regulated by the federal government, and now the federal government should impose a moratorium on foreclosures to ameliorate the subprime mortgage crisis. Further, he seems to say that in general regulation is necessary to make markets work.  I can't even imagine what would cause a free market movement conservative and founder of National Review to say such things.  Thanks to Paul Krugman's blog for bringing this to my attention. 

Update on Thursday, February 28, 2008 at 08:08PM by Skeptic

Bill Buckley died yesterday.  Maybe he had intimations of mortality and was trying to undo some of his lifetime of misdeeds.  Still he was a likeable, smart, and articulate misguided rascal. I'd gladly turn over Rush Limbaugh, Bill O'Reilly, Glenn Beck, and Ann Coulter to the devil to get Buckley back for a few more years. 

Comments

[Ganny]

Nice article!