Tropical Storm Irene recently stormed across the northeastern United States, leaving somewhere billions of dollars in damages in its wake. But it won’t be insurance companies footing the bill – most likely, it’ll be taxpayers. This is partly due to the fact that most people that the storm affected don’t have insurance that covers floods, but the federal government’s insurance program is also billions of dollars in debt. Steven Stichter, chief operating officer at Kinetic Analysis Corporation, on how this could happen and what this could mean for the millions of victims of Hurricane Irene. Stuart Hurd, town manager of Bennington, Vermont, gives the latest from his town.
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