This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Katrina's Scars Harder To See As Super Bowl Looms

"That is an extraordinary run of events for a city that seven years ago was 15 feet under water and the last on every list in America that mattered," Mayor Mitch Landrieu said last week. "Now we find ourselves in a city that's on the world stage."

Yet, as far as the city has come, decades-old problems persist. New Orleans remains plagued by violent crime, political corruption, a troubled police department and poverty.

Crime rates briefly dipped after Katrina scattered residents all over the country but quickly soared again as people returned home. Landrieu has made crime reduction one of his top priorities, but the murder rate has remained stubbornly high since he took office in 2010.

After the storm, federal authorities launched a sweeping effort to clean up the police department. Several investigations yielded charges against 20 current or former officers, many of whom were linked to deadly shootings in Katrina's chaotic aftermath. The Justice Department also has negotiated ambitious plans to reform the police force and improve conditions at the city's jail.

Separate probes of City Hall corruption revealed that some officials enriched themselves while New Orleans struggled to rebound from the storm. The latest and most prominent target so far is former Mayor Ray Nagin, who was indicted earlier this month on charges he accepted bribes and payoffs in exchange for steering work to city contractors.

For the city's poorest residents, life hasn't gotten any easier since Katrina. Housing costs have skyrocketed while the region's unemployment rate has risen along with the rest of the country. A months-long moratorium on deepwater drilling in the Gulf after the BP spill didn't help matters, either.

"A fresh coat of paint hasn't and won't drive away the poverty that has existed in our community," said Davida Finger, a Loyola University law professor who has helped low-income residents with Katrina-related housing problems. "It didn't go away with the storm, and it can't go away overnight."

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs