William F. Buckley On Big Tobacco and Hypocrisy


In a 1988 ABC special, columnist William F. Buckley debated Jesse Jackson on drugs (particularly cigarette smoking), and during the debate Buckley said this:

“If we get nothing else out of the hour tonight, I would hope that we emancipate ourselves from the superstition that that which is legal is necessarily honorable. . . It’s perfectly legal to contract syphilis but that does not mean that society is in favor of syphilis.” And then he goes on with the pointed jab: “As a matter of fact, it’s perfectly legal to vote for Jesse Jackson. That doesn’t make it reputable, does it?”

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Why Boardwalk Pipelines Is An Absolute Steal At $13

This week has been no friend to the long-term unit-holders of Boardwalk Pipelines (BWP) who were greeted with a cash distribution reduction of 81% from $0.5325 to $0.10. And because the appeal of midstream natural gas MLPs is generally the immediate income that they provide, the price of the stock fell almost 50% in reaction to the news, from the mid-$20s to just below $13 per share.

With the double whammy of a dividend cut and share price decrease like that, the only way to remain sensible is to channel your inner St. Lawrence, who reportedly said “Turn me over! I’m done on this side!” when the prefects burned him on the coal gridiron. You might as well accept the pain if you want to act intelligently going forward.

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