Aside from the certain moral hazard presented by Federally underwritten anything, Tim Kern has delivered some powerful insight into the consequences of Nanny-Statism over at Mises.org today. And although his analysis is in response to FEMA’s fumbling of the Katrina/Rita relief efforts, the problems he describes can be ascribed to just about any sort of heavy-handed bureaucracy.
In previous responses to Mssrs. Krugman and Parenti: The solution to the problem is a free market for insurance (and all other things, but thats a topic for another day).
Gone snowboarding for the weekend, and planning a trip to British Columbia in February or March. Enjoy the weekend and drink too much.