OBAMA WATCH CENTRAL
Is insurance industry next takeover target?
Proposal in Congress puts feds in middle of catastrophe claims
Posted: June 12, 2010 9:10 pm Eastern
By Bob Unruh
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“The ‘Homeowners’ Defense Act,’ H.R. 2555, dubbed the ‘Beach House Bailout,’ requires taxpayers across the country, and in your district, to subsidize insurance for wealthy homeowners along the Florida coastline,” the letter to members of Congress said. “The bill is structured to assist the state of Florida (and to a much smaller extent, California) through federal assistance.”
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Never mind take over, who wants to subsidize rich people on the Florida coast in mansions?
Let Donald, Rush, and whomever fund their own risks!
As a matter of fact, why is the gooferment involved in “insuring” floods any way?
Can you spell ‘moral hazard’?
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