People Get Ready

[ make levees, not war ]

I guess we’re just not well-enough connected

Posted by schroeder915 on January 20, 2006

Times-Picayune:

The chairman of a House committee investigating issues surrounding Hurricane Katrina expressed skepticism Thursday that Congress should bail out residents whose homes flooded but who lacked flood insurance to cover the costs of the damage.

It’s a lot for government to take on for people who didn’t buy insurance,” Rep. Tom Davis, R-Va., said during a tour of New Orleans. “I think we can drive the private sector to do what it is supposed to do.”

I might have more to say if I had the time, but I’ll just point out that the $157 billion federal bailout of Savings and Loans that went bankrupt in the 1980’s thanks to the mismanagement of depositors’ money by people like George W. Bush’s brother Neil, for purchases of luxury yachts, beach houses, and glamerous cars, is still costing taxpayers about $30 billion a year, and may exceed a trillion dollars.

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