Government Ready to Violate Contract Law in Mortgage Bailout

Juan Carlos Arroyo reports:

The reason for constitutional review is to prevent arrogant legislators from assuming they are the law. Mortgage investors are likely to challenge any re-writing of their contracts. If the Supreme Court still honors stare decisis principles, it will recognize that contract law goes all the way back to medieval England. If the government can void and rewrite legal contracts based on pure expediency, we might as well burn the Constitution.

The Constitution isn't exactly popular on Capital Hill.