Where did all the money go? How $700 million in Katrina relief money went missing
Where did all the money go?Yep. $700 million dollars out of $1 Billion disappeared without a trace, with no evidence that it ever got used for its intended purpose. Remember this the next time New Orleans floods - and it will - and the people there are crying about how George Bush hates black people. They were given - GIVEN - money with which to make improvements to their homes to lessen the danger of flood - and most just pocketed the greenbacks.
“Your guess is as good as mine,” David Montoya, the inspector general of the Department of Housing and Urban Development, says of $700 million in missing taxpayer money that Louisiana homeowners were given in the wake of Hurricane Katrina to elevate and protect their homes from future storms.
A new report released from the inspector general’s office shows that more than 24,000 homeowners who received grants of up to $30,000 to elevate their homes either misspent or pocketed the money.
There was apparently no oversight on how the money was disbursed; there was obviously no follow-up as to whether the money was spent appropriately; and from the video at the link, it doesn't appear that there's anything that can be done about it. Isn't that nice? They handed out hundreds of millions of dollars with no oversight whatsoever - and then act shocked when people just pocket the cash. Apparently all of human history escaped these people.
And yet, we're poised to do it again - there's some $51 billion headed to the Northeast to help rebuild after Hurricane Sandy last year. We can only hope that there will be more oversight than in Louisiana, although a chimp with a clipboard would be a step up. Let's hope that this $51 billion will be used effectively, efficiently, and entirely for storm rebuilding efforts - although without proper oversight, that's some long odds.
It's almost like those who refuse to learn from history are condemned to repeat it...
That is all.