Talk about piling on! Right after the cover story in “Bloomberg Markets” (headlined “Insurance Hoax”) that I cited this week, “The New York Times” followed up on Labor Day with another devastating front page article, “Insurers Bear Brunt Of Anger in New Orleans.” Read it and weep.


(To read the complete story, click here.)

While at least the Times acknowledges that insurers “may have” (do they doubt the figure?) paid out $11 billion to Louisiana residents for Hurricane Katrina damages, they go on to report that “they have also become a new villain in the tales people tell about the slow recovery here.”

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