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Buckley Plan Would Make Problem Worse

Geoffrey Lawrence of the Nevada Policy Research Institute (NPRI) has taken a look at Assembly Speaker Barbara Buckley’s highly-touted plan (AB 149) to ease the suffering of home owners who bought too much house and/or purchased it on bad terms and are facing foreclosure. And Mr. Lawrence has determined – get this – that the Democrat’s proposal would only make a bad situation worse. What were the odds?

“Lawrence said the Buckley bill could induce existing homeowners who are not in default to stop paying so they could enter into mediation with the lender and secure a better mortgage rate,” the Las Vegas Review Journal reports this morning.”

Ah, yes. But doing something, anything, even if it’s bad, is good – as long as it makes people feel better and will look good on a gubernatorial campaign mailer.