Skip to comments.Where did all the money go? How $700 million in Katrina relief money went missing
Posted on 04/03/2013 7:25:20 AM PDT by BradtotheBone
Where did all the money go?
Your guess is as good as mine, David Montoya, the inspector general of the Department of Housing and Urban Development, says of $700 million in missing taxpayer money that Louisiana homeowners were given in the wake of Hurricane Katrina to elevate and protect their homes from future storms.
A new report released from the inspector generals office shows that more than 24,000 homeowners who received grants of up to $30,000 to elevate their homes either misspent or pocketed the money.
The fact of the matter is that the money they received was for a specific purpose and the specific purpose was to elevate these homes to avoid future catastrophes, Montoya tells Power Players.
He rates the home elevation program as little more than a complete failure.
Considering there was just under $1 billion earmarked for this particular program and there's $700 million that wasn't used for that, Id give it a very low D, he says.
But the lessons learned from the failed home elevation project provides a useful roadmap as Congress moves to offer recovery funds to victims of Hurricane Sandy.
Clearly, to give money out on the front end right after a disaster, when many of these people lost everything, with a promise to do something down the road, I think is counterproductive to what the program was designed to do, says Montoya.
Montoya says his office will recommend that, for future disaster relief programs, funds are disbursed to individuals only after the project has been completed.
(Excerpt) Read more at news.yahoo.com ...
Ray Nagin’s freezer?
sad thing is the conservative/blue collar people of Staten Island would be smart with the money they are given to further secure their homes from future storms...but like everything else they’ll have to pay the price due to the “gimme, gimme” attitude of the generational welfare recipient from new orleans who voted for obama....
It sounds like 30% of the money was used as intended. 30% was a failing score at all places I have been.
The purpose of the program was to buy votes. I’m sure that it worked quite well from that perspective.
"Do I even need to say it?"
Hey, if it’s good enough for Iraq...
I imagine many of those people used that money to survive after losing their jobs and their work places.
But this is representative of how incredibly ignorant and wasteful Uncle Sap is with our money.
Haven't you heard? 30% is the new line for a D. (See the Atlanta School System)
It was protection money.
Congress has been in existence for over 200 years.
They are just now learning a lesson?
No. They learned the lesson 200 years ago: free money from taxpayers can be used to bribe people for votes.
Following the disaster Nagin moved his family to Dallas and put his kids in school there.
Maybe someone could find out what digs he was able to get on his mayoral allowance.
Aren’t there any forensic accountants anymore? Aren’t there any District Prosecuting Attorneys? Aren’t there ledgers? Aren’t there requirements for someone along the way to sign-off on disbursements? Insane corruption.
Where did all the money go?...Indeed!...What a 10 mile high pile of bile...