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FEMA May Not Have Enough for Flood Damages

The Federal Emergency Management Agency (FEMA) says it has sufficient funds for disaster aid in response to Hurricane Sandy, but it is uncertain whether the agency has enough for flood damage...
November 6, 2012

The Federal Emergency Management Agency (FEMA) says it has sufficient funds for disaster aid in response to Hurricane Sandy, but it is uncertain whether the agency has enough for flood damage. FEMA oversees the federal government's flood insurance program, and is responsible for paying out flood claims. FEMA already owes $18 billion to the Treasury Department as a result of Hurricane Katrina, and insurance experts say FEMA’s flood insurance program has access to funds totaling $3.8 billion, the bulk of which is in loans.

FEMA May Not Have Enough for Flood Damages (CNN Money 10/31/12)

Related Story: The Wall Street Journal