Earthquakes

The Public Policy

Fannie, Freddie, and the Big One

By 1.17.14

Twenty years ago today, the 6.7-magnitude Northridge Earthquake struck the San Fernando Valley 20 miles northwest of downtown Los Angeles, killing 60, injuring 7,000, and damaging more than 82,000 buildings. The price tag for the quake was a record $20 billion in property damage, only about half of which was insured.

The two decades since Northridge have seen significant efforts to mitigate earthquake risk through retrofitting, as well as the creation of a state agency in California dedicated to providing earthquake insurance to all who seek it. Alas, despite those steps, there is significant evidence that not only are we less prepared for a major quake today than we were in 1994, but that the financial brunt of any such disaster would mostly fall squarely on the shoulders of U.S. taxpayers.

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At Large

The Bonfire of the Hispanities

By 4.28.09

Live (still) from Mexico City, where grudgingly unhelpful Embassy personnel and CNN swine flu coverage are discomfited by a 5.8 earthquake.
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