New details emerge about Scott Walker’s violent side. Senator Wicker staffer phone whipped and punched with closed fist.

Scott Walker / The Sun Herald

This Scott Walker update brought to you by Lt Gov Phil Bryant: If he’s warm and Republican he’s good enough for the people in Ocean Springs

Margaret Baker is all over the unfolding Scott Walker meltdown with new details about his arrest in Washington DC for assaulting Senator Roger Wicker staffer Eleanore Kelly. I think it is very clear Scott has problems that go way beyond simple boozing to a place far more sinister. And to think, with the full backing of the state and local GOP political machine, this thug came within 96 votes of becoming the Mayor of Oceans Springs. 

Margaret Baker has the skinny

Former mayoral candidate and local businessman Scott J. Walker assaulted a staffer of U.S. Sen. Roger Wicker’s with a telephone in a Washington, D.C., hotel room in the early morning hours of April 11, according to an affidavit filed in the case. 

Walker was charged with simple assault and attempted possession of a prohibited weapon, the weapon of which was identified in the court record as a hotel phone. Continue reading “New details emerge about Scott Walker’s violent side. Senator Wicker staffer phone whipped and punched with closed fist.”

Speaking of soaked:$38million added to Mississippi windpool – Coast Rep. Brandon Jones all wet waiting “for the insurance market to stabilize…”

“As we wait for the insurance market to stabilize, keeping money flowing into the wind pool is critical for thousands of Gulf Coast families and businesses.”

House Insurance Committee Vice Chair Brandon Jones, D-Pascagoula

“Wait”!  How long? What possible incentive is there “for the insurance market to stabilize” when states are willing to pick up the tab?  None.  Nada. Zero.  Just not going to happen!

Mississippi’s return on investment in the windpool since Katrina is an additional 28,000 property owners depending on the State to cover loss from wind damage to their property – 44,000 total, according to the story in today’s Sun Herald.

The state Legislature has passed a bill containing an extra $20 million for the homeowners’ insurance wind pool.

The bill has $20 million in new money for the wind pool from a disaster-reserve fund, plus $18 million to finish previous legislative commitments to the program.

After Hurricane Katrina, many homeowners were unable to get coverage from the private insurers. For them, the state-backed wind pool insurance program was the only option.

Where is the “insurance market” Representative Jones thinks will “stabilize”?  It is certainly not in the six coastal counties covered by the “state-backed wind pool insurance program”.

So, who got “soaked” after Katrina aside from Alabama taxpayers – and other things you can learn from Congressman Taylor’s Charts

Data talk.  If you turn a deaf ear when Mississippi’s Congressman Gene Taylor talks about insurers billing wind damage to the NFIP, never fear.  Dumping wind damage on the government’s flood program was not the only way the wind vs water damage controversy soaked taxpayers and left Congress with surge on its face for opposing Taylor’s legislation.

Listen up, now, as these data tables from the Congressman’s written testimony tell the story.  Follow the link to the data tables and the Congressman’s discussion of what these data indication.

Katrina damaged or destroyed entire neighborhoods of homes and, in some cases, entire communities.

There was no one-size fits all solution to the housing problem.

So, who got soaked? The American Taxpayer.

$ Taxpayer funds allocated to Fema provided Housing Assistance Payments to those who would have received ALE (Alternative Living Expense) from their homeowner’s policy had the wind damage not been attributed to the flood that followed Katrina’s powerful wind.

$ Taxpayer funds allocated to FEMA provided manufactured housing to homeowners with a policy that would have paid to repair the damage to their home if the insurer holding their homeowner’s policy had not insisted the flood damage caused their loss. Continue reading “So, who got “soaked” after Katrina aside from Alabama taxpayers – and other things you can learn from Congressman Taylor’s Charts”

From the sudden wealth syndrome files I offer Powerball winner Christopher Shaw: Slabbed by too much of a good thing?

Christopher Shaw / AP Photo

It is said a picture is worth a thousand words and I think that is the case today as I get a chance to indulge one of my intellectual passions in behavioral finance and its kissing cousin behavioral economics and introduce Missourian Chris Shaw to the Slabbed Nation. Chris, hit the last powerball jackpot catapulting him to the ranks of the hectomillionaires and the top 1% of this nations wealthy. Chris is truly blessed right? Probably not due to a phenomenon termed Sudden Wealth Syndrome but first lets start with the Sarah Wire’s AP report courtesy of Yahoo:  

A Missouri man who won a $258 million Powerball jackpot and plans to use some of the money to pay bills and take his children to Disney World says he hasn’t decided yet if he’ll quit his job at the convenience store where he bought the winning ticket.  

Chris Shaw — a 29-year-old tattooed father of three who was raised by his grandparents in rural southern Missouri — came forward Thursday as the winner of the 10th-largest Powerball jackpot ever. Shaw said he had just $28.96 in his bank account and recently bought a 1998 Ford Ranger from a friend who agreed to let him pay off the $1,000 price $100 at a time. Now, he said, he no longer has to worry about how he’ll pay his friend — or his utility bills.  

“We didn’t come from money. For us it’s just going to be a huge relief to know I’m going to be able to pay my electric bill, my gas bill,” Shaw told the Associated Press. “It’s like a weight lifted. I had bills at home I didn’t know how they were going to be paid.”  

Continue reading “From the sudden wealth syndrome files I offer Powerball winner Christopher Shaw: Slabbed by too much of a good thing?”