Katrina is not a natural disaster . . .

. . . Katrina is a man-made disaster. Victor Fleischer's assessment seems right on the money.

The idea that Katrina is really a man-made disaster is at once reassuring -- because if Katrina is a man-made disaster, then future Katrinas might be avoided -- and damning -- because if Katrina is a man-made disaster, then it's time for some hard thinking about just how the disaster was created.