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On The O’Reilly Factor on Nov. 1, John Stossel, former correspondent for ABC’s 20/20 and current host of the Fox Business Network show Stossel, said that “the government should stop insuring areas” prone to disaster.
“What if nobody wants to insure you?” O’Reilly asked.
“Then you take your own risk. Then the private insurance market is saying, you live in a risky place, don’t build there.”
Stossel himself once received $250,000 in FEMA money, but said during the program he would not do so again.
Well, if you knew you were building in an area even the insurance underwriters won't touch, and you were told in advance that the taxpayers weren't going to bail you out, would you build? Would you have a shot at getting a mortgage?
No;they do it because of the funding and econmic impact of doig nothing.Its the tapers who do it thru their representative elcted offical votig for the aid.not some monater called big government.Mnay mistakig think that the majority of Federal aid goes to individuals ;it doesn't get goes to mix with matchig funds for public infrastructure destroyed that is not insuranable.Its really no different than the oork given out all thetime except it more by need need to repalce.
I bet that went over well in Florida. Without State insurance many people would not have a home there. i Don't see the Republican governor of Florida trying to get rid of it.
"I always say, 'you gotta stand on your principles'.... oh crap my house is damaged, thanks for the money... okay, now it's time to 'stand on your principles.'"
Well, if you knew you were building in an area even the insurance underwriters won't touch, and you were told in advance that the taxpayers weren't going to bail you out, would you build? Would you have a shot at getting a mortgage?
Well that would shut down a whole lot of farm land in the Mississippi, Missouri River region, not to mention cargo ports, industrial development (see refineries) and fisheries industry that lie in areas that are susceptible to flooding. In short large sectors of our economy would cease to exist. Now I know that thinking about the complexity of modern society isn't a conservative forte, but not every discussion about flood insurance isn't about beachfront mansions.
He's right. Its called PERSONAL RESPONSIBILITY....I know big words confuse you statists who think the governments job is to take care of you from cradle to grave.
Well that would shut down a whole lot of farm land in the Mississippi, Missouri River region, not to mention cargo ports, industrial development (see refineries) and fisheries industry that lie in areas that are susceptible to flooding. In short large sectors of our economy would cease to exist. Now I know that thinking about the complexity of modern society isn't a conservative forte, but not every discussion about flood insurance isn't about beachfront mansions.
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