TYT: Trent Lott's _RETROACTIVE_ public option for HIS OWN property insurance

[ProfessorPlum]

Run time: 03:11 https://www.youtube.com/watch?v=NeZv8AEv0uQ   Posted on YouTube: September 24, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: September 24, 2009 By DU Member: ProfessorPlum Views on DU: 1117

 
Holy shit. What scumbags Republicans are, especially when it is their money on the line. Jesus Christ. Fuck.

[ihavenobias]

1. K & R n/t

[mudplanet]

2. The way property insurance works, at least in areas that have at

least ANY chance of flooding, is that the private insurance won't cover water damage except for rain through the roof. Flood damage insurance is available underwritten by the Federal govt.

After a hurricane, if your house is gutted or destroyed and you haven't purchased the flood insurance, many folks will make a case that the damage was done to the house by the wind BEFORE the flood waters came. People that are flooded by rivers are shit out of luck in this case.

I'm glad that TYT have brought this up, because Federally underwritten flood insurance is a very good example of a public insurance program. I believe that conservatives don't want this example used because flood insurance only benefits the middle class and above.

After the series of serious hurricanes that have hit the south and southeast in the past twenty years, the Feds are re-classifying areas so that those most prone to flooding are no longer eligible for flood insurance.

The really rich can build houses in places like Hilton Head (and Ft. Lauderdale, and Palm Beach) ONLY because they can get Federally underwritten flood insurance. Private insurance companies won't touch these homes.

So, Federally underwritten flood insurance primarily benefits the very wealthy and land developers, which is why it's not controversial.

Lott (he's a good ole' boy and a real piece of shit) may get recompensed for the damage to his house, but he won't be able to get flood insurance any more as his house is about five feet above sea level and faces directly onto the Gulf. Unless, of course, he's managed to pervert the process to find himself the exception he, as a rich white guy, deserves./

[ihavenobias]

3. Kick n/t

[Nostalgic]

4. Someone made a comment in the YouTube site:

"In other words if Trent Lott had problems with health that would change too."

So true.