Thursday, December 25, 2008

Five Bailout Lessons From Katrina

Hurricane Katrina victim, Lewis Reddick, stands in the FEMA Diamond travel trailer park in May of 2008. (Photo: Getty Images)


by Bill Quigley,

Wednesday 24 December 2008

t r u t h o u t Perspective

The US has committed nearly three trillion dollars to the financial bailout so far. The Federal Reserve has made more than $2 trillion in emergency loans and another $700 billion has been pledged through Congressional action. Much more money is coming.

Things better for your community? I didn't think so.

Welcome to Katrina world. Despite pledges of a hundred billion dollars, we are still in deep pain along the Gulf Coast. What happened?

Unless citizens are vigilant and demanding, the entire US will be subjected to the same forces that swept through the Gulf Coast after Katrina - spending huge amounts of money and leaving a second disaster behind. Read rest of article: