The new terrorism insurance bill Dubya signed will ensure that the feds take on the risks that insurance companies think are too high. Want to build a huge skyscraper that will prove a tempting target for terrorists? “Go for it,” says the new law.
By leaving this in private hands, real estate developers and insurers would have a profit incentive to be creative and design buildings that actually reduce the risk of terrorist attacks. So much for that. That “giant sucking sound” you hear, to quote Ross Perot, is your tax dollars going to pay off big insurance companies the next time there’s a major terrorist attack.