Another Case for a National Disaster Recovery Bond
So many of us are so angry. Something’s been broken that can’t be fixed – not really fixed. This disaster can by castigated, mitigated and compensated – but not really fixed. Something worthy of all this destruction and suffering needs to be put in place for our nation.
SMHA believes, as we did after the 2005 hurricanes of Katrina and Rita, that America needs a National Disaster Recovery Bond (NDRB) similar to the war bonds in the 1940’s. The bonds should be issued at every bank, should pay a modest return which would be incentivized to be part of every balanced portfolio.
The NDRB would not underwrite the financial responsibility of nationally declared disasters caused by companies such as the BP oil spill. Rather it would allow monies from the bond pool to get out quickly to those impacted by any disaster until proper compensation would be made, which in the case of hurricanes and likely in the BP oil spill, takes years.
Call your U.S. Representatives and introduce the idea of a NDRB.