And if Newport Beach goes there goes PIMCO ($1.8 Tril. AUM). As well as some pretty darn nice houses.
From the Daily Mail, April 24:
Is California about to be hit by a major earthquake? Study finds LA has suffered 1,200 micro-quakes in past eight months — putting area at risk of bigger tremor
- Scientists identified 1,262 previously unknown earthquakes in California
- The tremors were observed in the suburbs outside of Los Angeles
Los Angeles could be at risk of a major earthquake, a study suggests.
Scientists from the California of Institute of Technology (Caltech) have detected more than 1,200 shallow quakes in the past eight months.
These shallow quakes were detected about one mile below the surface, which can build up and create pathways for more significant ruptures on the surface.
The team studied Long Beach and Seal Beach, two LA suburbs that are located along the Newport-Inglewood fault.
Previous studies have suggested this fault is capable of up to a 7.4-magnitude quake, which has 'an energy equivalent to around 32 Hiroshima atomic bombs.'....
....MUCH MORE
On the other hand the fault (roughly) connects Compton to Newport Beach which is nice. Very egalitarian:
