[prasadjoglekar]

While true, this is the devil's bargain we have struck in 2008. Big banks betting on RMBSs got a bailout and removed the moral hazard there. People with mortgages rightfully revolted and this FEMA scheme is one of the ways in which money is being filed out.

It all needs to be unwound. How, is unclear.

[xrd]

Fascinating to hear it put this way. If Trump were to rail against FEMA because it was a money laundering scheme for coastal property owners, he might have wider support, but would lose support of Floridians who want that money laundering. It feels like everyone is winking and grinning straight to the bank.