Federal flood insurance: the Sandy next time

“After disasters such as Superstorm Sandy, the natural inclination is to do everything possible to help people struggling to rebuild their homes, businesses and lives. But over the next couple of years, those good intentions will lead to a lot of foolish, even dangerous, decisions that will encourage people to rebuild in harm’s way.” [USA Today editorial via Ira Stoll]


  • Moral hazard – this could be (and should be) re-published after every such disaster.

  • Simpleton re-write probably from Katrina or earlier. Every part of America has its own “acts of Mother Nature,” hurricanes, tornadoes, forrest fires, floods, etc. and Mother Nature always wins and populations density always increases and governments always try to be everything to everybody and usually fail, but life goes on for most.