The US taxpayer was involved in this in so many ways it's hard to count. Paid for R&D of plane, laser guided bomb, possibly training of the pilot, possibly the bomb itself, the power plant was funded in part with US taxzpayer monies, it was insured by OPIC, which is fully backed by the US taxpayer. The insurance will pay out $48 million directly to Khoudry, who will probably have to pocket the money since Israel will not allow the repair/rebuilding of the plant without something tangible in return this time, i.e. more US taxpayer subsidies to Israel.
It's hard not to laugh at the ridiculously sublime nature of the misfortune of US taxpayers in this situation.
This makes me want to puke.
This makes me want to puke.
Jesus H, who is stupid enough to insure a power plant in Palestine?
Oh, that's right, the American taxpayer.
No wonder Condi asked the Israelis to use restraint.
If it's an insurance situation, then the insurance company will pay.
So, the US government is in the insurance business? Where did I read that in the Constitution?
I thought just about every insurance policy had an exception for coverage during or because of "acts of war". I'd sure be interested to know it that is the case here.
Wonder if there is a (very common) Act of War exclusion in the policy. If there is, American taxpayers are of the hook.
You would think `smart' bombs that we sold would be able to
figure out not to blow up American-insured infrastructure.
The U.S. Congress should have blocked that check before it was cashed. Why are we subsidising people who are willing to kill us? It's beyond me.
Most normal insurance does not cover damage caused by a war.
And if we do get stuck with the bill, take it out of what we will pay one way or the other to the PA.
The Morganti Group also did a "Palestinian" water project (paid for by taxpayers through USAID as part of $72 million in projects).
http://telaviv.usembassy.gov/publish/peace/archives/1999/december/me1206b.html
Ridiculous. This is why the war never ends.
Someone should double check on this. The IDF struck 2 transformers. How much do those cost to repair/replace?
So the good news for the Palestinians is that thousands of dollars will be coming their way very soon!
The bad news is that FEMA will be handling the disbursement.
I.AM.SCREAMING! In my head of course. Wouldn't want the neighbors to think I was being butchered.
Lets all gather around a campfire in the desert and engage in primal scream therapy ping :(
This has to be a joke ?
It's hard not to laugh at the ridiculously sublime nature of the misfortune of US taxpayers in this situation.
Actually, this U.S. taxpayer is finding it difficult to see anything amusing about this.
It's entirely possible that we might actually pay out up to 2.7 times the installation cost of this power plant to make up for loss of future earnings and capital equipment. From OPIC's web pages:
Extent of Coverages
Term
The term of an insurance policy for an equity investment may extend up to a maximum of 20 years. For loans, leases, and transactions covered by the contractors and exporters program, the term is generally equal to the duration of the underlying contract or agreement.
Self-Insurance Requirement
OPIC can insure up to 90 percent of an eligible investment. OPIC’s statute generally requires that the investor bear at least 10 percent of the risk of loss. However, loans and capital leases from financial institutions to unrelated third parties may be insured for 100 percent of principal and interest.
Coverage Multiples
For equity investments, OPIC typically issues insurance commitments equal to 270 percent of the initial investment — 90 percent representing the original investment and 180 percent to cover future earnings. Coverage amounts may be limited for investments in countries where OPIC has a high portfolio concentration.
Can't we use our terrorist financing programs to freeze that $48 million asset immediately upon paying it? Or can we get Israel to drop an octet of MOABs on Gaza, then pay the $48 million in live pigs to eat through the rubble? Let's get creative here.