Sunday, December 30, 2012
Flood insurance under water, thanks to Sandy

FEMA program is in dire need of reform

Don't look now, but in the wake of Hurricane Sandy, the federal flood insurance program is about to go under water -- again.

After Hurricane Katrina ravaged New Orleans, the Federal Emergency Management Agency had to "borrow" $18 billion from the Treasury to pay claims. That money will likely never be repaid, but the...

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