Friday, July 07, 2006

Will the market restore New Orleans?

The answer of Jed Horne, the editor of the Times-Picayune, is probably not. In an article in today's Boston Globe, Horne criticizes the Nagin administration for ignoring the advice of his recovery commission and respected urban planners and allowing - nay, encouraging - rebuilding in the areas most likely to be severely damaged in the next Katrina. "The result is that many New Orleanians, savaged financially by Katrina, have been encouraged to pour what's left of their net worth into restoring properties that may not be safe, easily insurable, or, in the long run, marketable."

Horne acknowledges the crappy record of past city and state leaders and recognizes that current and future leaders may be as bad. But, he also recognizes that the private sector has not helped out the city either. His article is a cry for help and an expression of optimism that somehow enlightened leadership will emerge to implement a sound plan to restore the city's health, if not all of its neighborhoods.

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