[Tarpon]

You simply miss the point, the slum lords need to get the voters back on the plantation -- the taxpayers are just being asked to do the upgrades.

Watch carefully over the next months as the truth floats out of the swamp.

If it were me, I would bulldoze the whole state and give it back to the ducks.

[econjack]

I fear you are right.

The whole issue of federal funds to fix private property really bothers me. As a grad student a bazillion years ago I read a book titled "An Economic Interpretation of the Constitution" by E. Cary Brown. It profoundly affected my thoughts about the role of the Federal govt in the marketplace. In a nutshell, it says the only legit role for the Federal govt is in providing "social overhead capital", or those things the private sector won't provide but society needs (e.g., a legal system, national defense, etc.) It should not be in the package delivery business (USPS), banking (SBA), or insurance (flood).

I think bailing out private citizens who failed to adequately insure their own private property should shoulder the consequences of their folly themselves. As to repairing the infrastructure, that should be paid with state funds, perhaps bonds, so that the true cost of living in LA is reflected in their tax structure. As it stands now, I don't believe that's the case.