Having insufficient insurance and avoiding regulation made a profit. Government
would have been the bad guys for requiring a real fire department instead of
asking volunteers to go put ut a fire at a bomb site.
But Wait.I thought that companies did not need to be regulated in
order for them to do the right thing.
Doesn't this just make you love the wonders of the unfettered free market?
Governor Perry can tout the wonders of the bidness-friendly state of Texas all
he wants, but this tragedy proves the value of reasonable regulations on
businesses.The owner of this business only carried one million
dollars in liability insurance? The plant was right across the street from two
schools! It had 270 TONS of ammonium nitrate, the same substance used (with
fuel oil) in the Oklahoma City bombings? And it is rare for Texas to require
insurance for any kind of hazardous activity?This is the sort of lax
regulatory environment that is an embarrassment to third-world countries like
Bangladesh. If I lived in Texas, I would be embarrassed to admit to living in a
banana republic. Governor Perry and the other anti-regulatory politicians in
Texas should hang their heads in shame.As for the owner(s), they
should lose everything they own and be sentenced to community service for the
rest of their lives.