We hear none of this continued whining out of ANYBODY in Mississippi or further west on the Louisiana Coast.
Knowing how corrupt New Orleans' officials have always been, it's difficult for some of the rest of us out here to sympathize with this pity party.
This plan has been in place for over three months now. Bush saying Louisiana doesn't have a plan is a lie. This plan is a loan, not a federal gimme program. It sets up an agency outside the confines of state government, and local governments to help homeowners get out from under their present mortgages. It buys their property at 60% of pre-katrina levels, then does what it needs to do to attract reinvestors interested in developing the property. The reinvestors are ultimately the ones who repay this original loan. Check the other threads of today for more details. In short, it is a loan program that will be repaid.