The horrifying devastation wrought by Hurricane Katrina on the Gulf Coast calls for a unified and rapid response. From humanitarian assistance to financial forebearance, the need is great and the solutions are difficult. What's certain is that the lives, homes and businesses of the people across an entire region of the country will certainly need the support of the financial industry.
Several questions come to mind: How has the disaster affected you and your institution? How can banks help people to rebuild their lives from scratch? How will the region's banks shoulder the financial burden of what looks to be substantial amounts of uninsured losses and bankruptcies? What are the operational implications for banks, mortgage companies and credit card companies during the crisis and its aftermath?
Please share your thoughts with us.