Lack of Regulation Has Costly Outcomes

From Reuters, yet another take on the costly and sometimes tragic outcomes from lack of regulation and the problems of the National Flood Ins. Program. See: Unfettered building, scant oversight add to cost of hurricanes in U.S.

In the wake of a ferocious storm season, Reuters finds that homes built in violation of flood-mitigation rules add to the billions of dollars in claims on the already-broke federal flood insurance program

One thought on “Lack of Regulation Has Costly Outcomes

  1. I wonder how many Federal mortgage entities, FHA, Fannie Mae, Freddie Mac, etc backed loans for this alleged non-compliant construction. Interesting that the regs were perceived as so arduous, even Democrat Sen Bill Nelson thought he needed to intervene . Most people that live in the Keys are tree-hugger types, yet they seem to have a natural navigation towards excercising their property rights.

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