The Mudcat Café TM
Thread #85177   Message #1576596
Posted By: Q (Frank Staplin)
05-Oct-05 - 01:31 PM
Thread Name: BS: 3,000 jobless in New Orleans
Subject: RE: BS: 3,000 jobless in New Orleans
Gnu says it succinctly.
ALL of the governments in the affected areas are faced with the problem of no money coming in from taxes, rentals and leases to pay salaries of their employees.

Some smaller banks are talking closure because their depositors and mortgage holders are scattered and no longer can make deposits.
Will or will not insurance cover rebuilding? No one knows with certainty whether their property is or is not covered. A lot of court cases coming up.

The loss of economic base in the long run is more serious than the problems of reconstruction.

NO income- NO pay