Surviving the Next Housing-Market Hurricane
Disturbing evidence has emerged suggesting that, overall, the global financial system is no safer today than it was in 2007. Most blame misguided regulation, but the real problem might be the evacuation plan – or, more precisely, the plan to avoid evacuation.
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KEY WEST – Biking along the beach here for a good sunrise view, my bicycle’s headlight illuminates signs for the hurricane evacuation route to Miami. The signs are not surprising, given the intensity of the storms that can smash into the Florida Keys. More surprising is that those signs hold important lessons for financial regulation.