The fine for a car going through a red light is only ~$500 in California.
Note that for autos, the equivalent is the yellow lamp in a stoplight and in that case the rule is that the vehicle must have entered the intersection before the lamp turns red. So LA seems to have standards that are paradoxically more stringent for pedestrians.
That said, the reason they want to crack down on that is they are treating these as gaps for cars to turn (mostly right), instead of heaving either a separate arrow for turning or changing the pedestrian light behavior to allow for a non-flashing red. Basically, instead of spending money to promote public health, they are "taxing" the public through citations.
There are similar examples of these tactics with cars as well. Remember, LA has a serious budget problem: http://articles.latimes.com/2013/oct/18/local/la-me-ln-posit...
The positive news from that article is that they are "only" expecting to be lose "between $153 million and $242 million"...
Not sure for pedestrians but by logic this applies to them as well. Logically a flashing don't walk signal to someone who hasn't started walking over the crossing means Stop. What else could it mean?? Run over the road or cross as fast as possible. Definitely not as that would increase accident probability.
It's not that unreasonable to have a different law for cars than for pedestrians.
Ask yourself with what object do fast late crossing pedestrians have the most problems with? ( hint: it's heavy )
(Disclaimer: This is based on Raleigh, NC's traffic lights. I don't know what level this is standardized at.)
http://peds.org/resources/pedestrian_right_of_way/
Start reading at: Pedestrian control signals
Also:
http://www.mto.gov.on.ca/english/dandv/driver/handbook/secti...
http://www.durham.ca/print.asp?nr=/departments/works/roads/t...
There isn't any fines like that in other European countries either, so what you're basing your views on I don't know: