I'm looking back at the amendment. And the point I was trying to make, which I think is pretty clear here, is that it says ``under any loan previously made under this Act or any loan provided by any agency or establishment of the Federal Government to the program,'' that's the risk catastrophe fund, ``or the State for assistance in connection with a natural or other major disaster.'' First of all, a question for you is the money that goes to a State, are you talking about FEMA money?
Ron Klein: “I'm looking back at the amendment. And the point I was trying to make, which I think is pretty clear here, is that it…”
Editor's note · Context
Discussing the implications of an amendment related to federal disaster assistance funding.
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There is no money that under this program goes to the State. It goes to the participants of the risk catastrophe funds. Those are independent.
The way this is designed is that the loans are structured between the risk catastrophe fund and the Treasury under terms and conditions that are acceptable to the Treasury. Now, if there is a default under those terms and conditions, it's…





