October 27, 2007

LET'S SEE HOW FAST FOLKS REBUILD...:

Living here makes no senseā€¦ but that's LA (Rob Long, 28/10/2007, Daily Telegraph)

The key, of course, is to rebuild. It makes no rational sense to live in a place so dangerously unstable, just as it makes no rational sense to work in a business where fortunes are made and lost at the whim of a focus group. But for those of us who work here you adjust to each disaster. When the canyons burn, you spend a few nights at Shutters, head back home, and start again. When ABC passes, you call up CBS.

...if we stop covering their losses.

Posted by Orrin Judd at October 27, 2007 7:33 PM
Comments

Actually, per the Tax Foundation, Californians get $.78 in benefits for every $1 in taxes paid. So, in effect, they are covering their own losses, and probably Louisiana's too (they're about $1.47 in benefits).

Posted by: Brad S at October 27, 2007 11:59 PM

I say again, Rodger.

I've spent time in San Diego on Marine Corps business. Nice place. I don't ask them to come up and shovel my snow. Let them take the bitter with the sweet. How about a little cost analysis here.

Posted by: Lou Gots at October 28, 2007 5:16 AM

Fire, unlike flooding, is a peril covered under homeowner's insurance, and you can't get a mortgage without getting a homeowner's policy. The increased risk of loss due to fire is priced into the premium charged for these policies if the underwriters have half a brain. If someone rich enough to have a house in a risky fire zone without a mortgage is stupid enough not to buy an insurance policy, they are rich enough that they don't need government bailout. If the insurance company's underwriters aren't smart enough to set premiums to reflect the risk of extra fire, they deserve to go out of business and allow smarter underwriters to full the void. For these reasons, there's no reason why the government should be paying for any rebuilding of homes from the fire. No reason execpt for the fact that California has the largest number of electoral votes and representatives in Congress.

Posted by: MarkD at October 28, 2007 9:19 PM
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