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Bush's pals in the Insurance industry should be furious with him.

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Jade Fox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:00 PM
Original message
Bush's pals in the Insurance industry should be furious with him.
By adding the damage of the flood caused to the damage from the
hurricane, insurers will now be paying millions more than they would
have, I imagine.

That assumes that people had insurance that would cover the damage.

The Real Estate industry should be pissed too. Land values in the NOLA
area just fell through the floor, at least for the time being.

Thoughts?

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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:01 PM
Response to Original message
1. They'll get bailouts from *, just like the airlines
They'll suffer NO losses. You can bet your life on that.
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Jade Fox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:03 PM
Response to Reply #1
2. You're probably right.
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jokerman93 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:06 PM
Response to Original message
3. Bailouts yes
And the new imminent domain laws will allow developers to help themselves to private property. There'll be a below-the-radar land grab unless congress intervenes. At any rate, that's what I would do if I was part of the machine.

:-)
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Jade Fox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:08 PM
Response to Reply #3
4. I didn't think about eminent domain-jeezus.....n/t
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SammyWinstonJack Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:16 PM
Response to Reply #4
7. I did.
:puke: Rat bastards!
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Poppyseedman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:15 PM
Response to Reply #3
6. Yup, new imminent domain laws
These evil conservative SC judges selling out the poor private property owners

Oh' wait.............................
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BrklynLiberal Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:18 PM
Response to Reply #3
9. Absolutley right! Check this out!
http://kurtnimmo.blogspot.com/

Criminal Plot Underway in the New Orleans Swamp
It is mighty suspicious the New Orleans "refugees" (as the corporate media call the Americans removed from the disease-ridden swamp left in the wake of Hurricane Katrina) are being relocated far and wide. Most of them will probably never return and will end up in ghettoes in Baton Rouge, Houston, and elsewhere (it appears Baton Rouge is being groomed as an expansive slum, since the rebuilt New Orleans will be a casino and tourist destination with time-share condos and luxury housing). It should be noted that the usual suspects will "remove debris" and supposedly "restore electric power" and "repair roofs" (an absurd declaration, considering many if not most of the homes in the New Orleans swamp will be condemned). "The Navy has hired Houston-based Halliburton Co.," the Houston Chronicle reported on September 1, well before the current effort to "rescue" and "evacuate" those not killed outright during the storm and afterwards, as Bush was on vacation and FEMA twiddled its thumbs, allowing as many residents as possible to die before people who actually have a conscience and are not neoliberal sociopaths began to scream and demand Bush be impeached for criminal negligence. "Halliburton subsidiary KBR will also perform damage assessments at other naval installations in New Orleans as soon as it is safe to do so," that is to say after the "refugees" have been relocated in distant slums. "FEMA privatized hurricane disaster recovery planning for New Orleans and Southeastern Louisiana. The firms that received the contract are big GOP contributors," writes Wayne Madsen.* For some reason I am not surprised.

As for the hardy who have stayed behind, determined to rebuild their lives and city, expect the swamp of New Orleans to be declared a health hazard and the remaining residents (or poor and middle class residents with no stake in the new corporate Las Vegas on the Mississippi) to be removed by the National Guard and Army at gunpoint. "On the sixth day of disaster and despair, an urgent new problem erupted: disease. A suspected outbreak of dysentery compelled authorities in Biloxi, Miss., to hurriedly evacuate hundreds of people from a shelter. Medical experts have warned of epidemics sweeping through crowded, unsanitary shelters," reports Knight Ridder.

"By early Saturday morning, buses had evacuated most people from the frightening confines of the Superdome," notes al-Jazeera. "At the equally squalid convention centre, thousands of people began pushing and dragging their belongings up the street to more than a dozen air-conditioned buses, the mood more numb than jubilant." It is obvious the fiasco that was the Superdome -- in essence a prison where old people and babies died from neglect and gangbangers roamed free to terrorize, murder, and rape -- and the convention center are designated departure points for depopulating the ruined city. Abandoning people at these departure points -- sans water, food, or medical care -- was part of the psychological warfare plan: people are desperate to escape these two fetid and disease-ridden prisons and are thankful to be relocated, probably to never return. Most of them are unaware their homes will be bulldozed by Halliburton and the land sold for pennies on the dollar to corporate developers.

<snip>

* http://www.waynemadsenreport.com/
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Star Donating Member (745 posts) Send PM | Profile | Ignore Mon Sep-05-05 12:15 PM
Response to Original message
5. No, I don't think so
Edited on Mon Sep-05-05 12:19 PM by Star
I believe I heard/read somewhere that most of those insured in NO couldn't get flood insurance. Since the damage was caused by flooding when the levees broke, and not by the hurricane, the insurance companies won't have to pay.

I'll look to see if I can find a link somewhere.

Here's a link about flood insurance in NO.

http://www.alertnet.org/thenews/newsdesk/N04565417.htm

"Homeowners without flood coverage whose homes were water damaged will have to rebuild using their own funds.

In past catastrophes, insurers have covered about 60 percent of total economic loss, but this could be considerably less with Katrina because so much of the damage has been caused by flooding, which is not covered by the insurers."

edited to add link.
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BrklynLiberal Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:16 PM
Response to Reply #5
8. You are right. It is FEDERAL FLOOD insurance that you have to get
Edited on Mon Sep-05-05 12:20 PM by BrklynLiberal
when you live in an area like that...which I am sure only the wealthier people can afford.
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Jade Fox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 12:21 PM
Response to Reply #8
10. So in other words, we the taxpayers are going to pay...
for the damage. Jeezus!

I wonder if anyone in the media will mention that.
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applegrove Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 03:05 PM
Response to Original message
11. didn't you know - on day one of the hurricane it was reported that
the insurance industry does good after a hurricane because though they pay out, they get to then legally raise rates across the eastern seabord and the Gulf.

But - they must be paying out tons that was not needed. Life insurance too.
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JerseygirlCT Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-05-05 03:11 PM
Response to Original message
12. They'll try to recoup through the gov't.
then the CEOs will lay off thousands and give themselves huge bonuses for doing so.
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