George Will compares Fred Thompson’s rise to the Tulip craze in Holland, the quintessential boom market followed by a crash. In the process Will makes the following point:

The Thompson boom has so far been based much more on style than substance, whereas anybody who understands Reagan (see his diaries), knows there was much more to him than an actor who played the role of a president. He also governed the largest state in the country before becoming president. As I have argued before, Thompson supporters have made the case for him on the basis of his style and a belief that he is a “true conservative” who can fill the vacuum in the current field. Now that he’s by all indication a serious candidate, it’s time to make a much more substantive case for Fred.

UPDATE: Ramesh Ponnuru thinks that Will “largely misses the target.”