(Bloomberg View) – After two weeks of nonstop coverage of massive hurricanes, the blame game has only begun, beginning with climate change and unregulated growth — for good reason. But the situation would not be nearly so dire without decades of well-intentioned but deeply flawed federal programs.

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Flood insurance: 1895 

It was impossible to purchase insurance policies to cover floods until 1895. This offered some protection until 1927, when the Mississippi River overflowed its banks across several states. Firms walked away from the business entirely.

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