Financing Katrina

Hurricane Katrina, that hit Louisiana in the late August, proved to be a disaster on many levels. Apart from the human tragedy and suffering of thousands of people, who lost their homes and families, material goods and any sense of security, federal government and state officials lost their credibility; people lost their trust in them. As Jack Welch, former CEO and chairman of GE put it, probably only Mother Nature was spared from the overall criticism (A20). …