you had the town of arnold, missouri, a town in illinois, they bought out those towns, floodwaters returned two years later and they were flooded. national flood insurance program works like this, the private market wasn t offering flood insurance because it s very hard to assess the risk and very expensive. the government came in. you pay the premium. purchased through the private insurer but back stopped by the government and what we ve had after katrina it blew a $17 billion hole in the budget of the thing. now we re going to have sandy blow another huge hole in it and it doesn t seem to me the program is effectively it seems to me the program is having perverse incentives in that it s incentivizing in areas we shouldn t build in. after all these claims are paid, about $30 billion in the hole to the treasury before