Report: $700 Million Missing In $1 Billion Katrina Fund

In other words 70% missing!


money_1We have yet another federal program with almost $1 billion missing with little more than a shrug from Congress and the Administration. What is astonishing is that this program only had about $1 billion to start with and over $700 million is missing from a fund that was supposed to be used by homeowners to elevate their homes. Many questioned such programs in funding private homes in high flood areas as well as the lack of controls in handing out hundreds of millions of dollars. Now the government simply says many homeowners simply took the money and ran. HUD Inspector General David Montoya simply says “your guess is as good as mine.” Most of us had hoped that our government would hand out $1 billion on more than a hope and a prayer. We would also had hoped that stealing tens of thousands of dollars would have some consequence for…

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