Katrina Coverage

I think he misunderstands what "bankrupt" means. He seems to think it means just not having cash. Despite their bond ratings being lowered, I'm sure New Orleans can raise some money from somewhere.

[Nagin] said the city spent its last available cash last week on city employee payroll and was seeking bank loans, federal assistance and other means of financing to continue paying its bills and staff, the New Orleans Times Picayune reported Tuesday.

However, Nagin was emphatic state and federal officials would not railroad through city reconstruction until it had passed city muster.

"I don't want anybody outside of New Orleans planning nothing as it relates to how we're going to rebuild this city without us signing off on it," Nagin said…

In other words: don't try to cut me out of the rebuilding.

This entry was posted on Tuesday, September 13th, 2005 at 12:59 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.