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Host: Aaron Bornstein
Guests: Andrew Hiller, Laurel Ptak, Pamela Brown, organizers with Strike Debt and some of the authors of the report: "Shouldering the Costs: Who Pays Pays in the Aftermath of Hurricane Sandy?"
We talk with a few of the authors of Strike Debt's incredible 23 page research report on government and corporate response to Hurricane Sandy. In particular, we focus on the pattern of using debt as aid, which the authors describe in their report as " reveal[ing] a policy whereby government responds to national disaster by transforming economic consequences into long-term, individual financial burdens." We ask why the Small Business Administration is in charge of distributing disaster relief aid, and learn that the standards they use for delivering that aid, and the terms of the loans that constitute a large portion of it, may precipitate another 'subprime' debt crisis in the affected areas.