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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (326472)	2/20/2007 8:12:58 PM
From: tejek	Read Replies (2) \| Respond to of 1578183

The state insures property and subsidized rates, and/or bails out property owners who didn't have insurance, and so further development is effectively subsidized and is encouraged, and so increased over the level it would otherwise have been. States typically provide insurance that private insurance companies won't.......private companies can be pretty finicky as the state of Mississippi is finding out. In CA, private insurance companies will not provide insurance to anyone living near vacant land that has brush growing on it. So the state provides a bare minimum insurance policy to those homeowners. Now this isn't a subsidy.....you pay for the policy. I repeat....the policy is not subsidized. In fact, it typically has a huge deductible......$25K I think, and minimalist coverage. Its not a great policy but its better than nothing. And you see how capitalism works. You're fine so long as you fall within acceptable parameters but when you don't, you're all but screwed. And what the good residents of Mississippi are finding out.....those parameters can change.