Bailout Joe to "forgive" insurance company of all costs of rebuilding the FSK bridge

“Brownie you are doing a heck of a job” :blush:

“We’ll pay for it!” wouldn’t have been the immediate jump-in-front-of-the-camera response if it weren’t an election year. :wink:

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Or not.

It’s like the wall!

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U.S. Treasury Secretary Janet Yellen on Wednesday appeared to walk back comments from President Joe Biden that U.S. taxpayers would foot the bill for the Francis Scott Key Bridge collapse.

My expectation would be that ultimately there’ll be insurance payments, in part, to cover this. But we don’t want to allow worrying about where the financing will come from to hold up reconstruction,” Yellen said.

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I figured that.

I am also 0% surprised to see the need to “walk back” Joe’s statement.

Or to call it that instead of calling it explaining for people who clearly needed it to be explained. :face_with_monocle:

If not the government, who? Who other than the government (the people of the United States) had property destroyed by their policy holder? Certainly, there is a legitimate claim by the families of the men who were killed, but the bridge that their client destroyed belongs to the people of the country as represented by the government. So why does anyone in the Biden Administration have to state the obvious?

Reimbursement of expenses incurred by the government to mitigate damage done by individuals and/or businesses and corporations is a well-established process. Take the EPA Superfund pollution clean-up program for example. The people who created the pollution are held financially responsible for the clean-up paid for by the government.

Warp Speed!!!

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Biden Derangement Syndrome is quickly reaching Trump Derangement Syndrome levels.

Nothing like a little homophobia in the face of human loss and national disaster!

Because that’s what small government, state’s rights conservatives do - they oust political enemies on the city level…errrr…wait…

Homophobia usually draws a supportive crowd and a few heart buttons.

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You don’t get it…it’s just a joke. Like “I’ll be a dictator for a day”. It’s ok to speak out against the constitution as long as it’s owning the libs!

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Trump needs to make this his main message!!, Because ■■■■ Maryland!

"A key to determining any insurance claims will be proving whether the accident was caused by negligence, and if so by whom, or mechanical failure, according to Bloomberg Intelligence. The ship is insured by the Britannia Protection and Indemnity Club, which is a mutual insurance association that’s owned by shipping companies. It’s one of the dozen clubs that make up the International Group of P&I Clubs.

Cap of About $3 Billion
That gives the policies related to the Dali a total insured limit of about $3 billion, a sizable sum but one that “would be very manageable for the global reinsurance market,” Bloomberg Intelligence analysts Matthew Palazola and Charles Graham said in a note."

Three billion should be more than enough to rebuild this bridge, plus compensate the families of the dead. What won’t be covered is the economic loss by businesses and their employees due to the port being closed.

How is that a walk back? Anyone not blinded by partisan rage knew that is where this is going.

Hey, free market conservative! Come on! We have a bridge down! Step up and recognize that this bridge is integral to the operation of the 9th largest port in the US, and the port that imports a vast majority of our automobiles!

Without this port operational, thousands, if not millions of jobs are at stake as the lack of imports trickle down through out economy.

So, what are you waiting for?

You don’t want your companies to feel an economic drag, do you? You want America to continue expanding, so you continue to profit, right?

So…start rebuilding the bridge today…

This is, after all, the stregth of the free market, right? If it needs doing, it will be done by those who profit from its completion.

What are you waiting for?

For libs to stop spewing idiotic rhetoric.

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