John Stossel: for what it's worth....

[Postman]

http://abcnews.go.com/Business/Insurance/story?id=94181

[ClintonTyree]

1. Oh please...........

don't tell me that I actually agree with Stossel on something! Now I know the "end times" are near! :nuke:

[LiviaOlivia]

2. Fuck Stossel

forever. a zero sum human being

[The Backlash Cometh]

3. "The insurance premium was a bargain"

Therein lies the way to control John's overdramatic diatribe.

Yes, I remember when he gave this report on the news and, he did have a point. Except, what he failed to say is that there was another way to curtail growth on the coast. High deductibles and high premiums.

[freethought]

4. This article actually makes some good points!

Just about everyone would LOVE a house on the seashore. Who wouldn't? But the question arises "Is it wise to do so." There are some people who are very critical of federal flood insurance, given that it encourages building and development in floodplains, seashores, estuarian edges, and lakefronts. Aside from damage from flooding and storms there is also ecological and environmental impacts. Estuaries get filled in and in turn affects water quality, wildlife breeding etc... People build in flood plains and are dumbfounded when, Surprise! The place floods!

Rich people build on beachfronts and are shocked when a storm washes the house away. These also people also have a nasty habit of cutting off access to the beaches to the public, a la David Geffen.

And to those who build on lakes, well, they install septic systems which eventually makes its way into the lake and fouls it.

There is an argument to be made for denying flood insurance to those in high risk areas, both financially and environmentally.