Feels like maybe corporations should be beholden to all stakeholders again, and not just shareholders.
Gotta cancel insurance for the shareholder, gotta cut safety costs as a power company for the shareholder, gotta suck up all that low cost water as a giant ag company shipping alfalfa to Saudi Arabia for the shareholder...
And then everyone else gets stuck with Flint, MI water quality, $1,000 per kWh electricity in frozen Texas, and uninsured homes in Florida and California.
I don't think that's the same issue, but WRT to California and Florida: at what point do people realize that this is just the risk of living in these regions?
I hope this doesn't come off as insensitive, but I really think people don't pay enough attention to the risk posed by natural disasters when deciding to live in a region.
Yeah, it's great to have sunny warm weather year round and access to beaches, but the down side of that is everything catches on fire or gets destroyed by a hurricane all the time. If insurance companies are backing out because they can no longer make money in your community because it gets wiped out every few years from a fire or hurricane, then people need to factor that calculus into whether you can afford to live in these places. If you can't self insure, then sell when you can and get out.
Everyone likes to blame their favorite scapegoat whenever something like this happens, but ultimately all anyone can do is mitigate risk and if the disaster is big enough the risk mitigation is bound to fail.