Comment But policy is NOT science (Score 1) 497
But, in my opinion the best hedge we have is banks and insurance companies. As long as they are permitted to do the math, we will be safe (unless they are prevented from using their best estimates by social engineering in the "democratic" body politic). For example, in New Orleans I bet rational assessment of long term risk would hurt the poor the most, making for irrational attempts to legislate away risk by blocking its use in assessing mortgages, etc. Think of the whole real estate bubble and the good intentions but bad ideas that made home ownership a right, not to be denied just because the owner could not afford it.