In this case, the Federal Emergency Management Agency (FEMA) set out to protect wealthy coastal properties from higher flood insurance premiums - which means they intentionally wanted to place insurance companies at greater risk. Companies have to use FEMA flood maps when creating premiums and when the damages exceed the estimates, who will foot the bill? Taxpayers. Poor people inland will be bailing out the 1 percent who just happen to donate to the political party in the White House.
FEMA is in deep water with the FBI after an investigative report by NBC News uncovered 533 instances where FEMA workers assigned a lower flood risk to high-risk properties, allowing the owners to save “as much as 97 percent” on their flood insurance premiums. Where were these properties? In high-risk coastal areas. And what are the political demographics of the wealthy elites who live on coastal America?
Credit and link: NBC News
Better watch out, FBI agents. The IRS could come after you - or the EPA could declare your offices a toxic waste site and shut you down.