[Mind-numbed Robot]

If they have flood insurance, no problem, even if it is a federal subsidy. I thought Baker's plan was for all property owners whether they were insured or not. That was the rub for me, or if it would take insurance companies off the hook and put the taxpayer on it. Just as the flood waters, all this is still murky.

[CobaltBlue]

Baker's plan is nebulous, agreed.

Nevertheless, there are several factors to consider.

~ Federally guaranteed flood insurance.
~ Federally guaranteed mortgage insurance (Fannie Mae, Freddie Mac, on FHA and VA loans, especially the new "no equity loans).
~ Federally guaranteed SBA loans.
~ Federally guaranteed student loans (this may be miniscule).
~ What will it do to the economy if 1% of the population defaults on credit cards and car loans and files Chapter 7?

We need top notch number crunchers to figure this out ASAP.