CEI launches Web site condemning ‘beach house bailout’

WASHINGTON, D.C. - The Competitive Enterprise Institute recently announced the formal launch of a new Web site devoted to news and information about legislative proposals that Congress is considering for a national catastrophe fund.

CEI experts say that the proposal amounts to a “beach house bailout” that could put taxpayers on the hook for bailing out the beach-front property of the super-wealthy.

The site, nobeachhousebailiouts.org, will be the go-to site for the national catastrophe fund issue.

“Currently, Congress is looking at foolish legislation that would create a taxpayer burden to bailout wealthy celebrities like Madonna, O.J. Simpson, Bernie Madoff and Anna Kournikova,” explains CEI Senior Fellow Eli Lehrer, the team leader for CEI’s insurance project. “We want to expose the absurdity of this kind of government intervention in the property insurance market.”

“CEI is already the leading think tank on cat fund issues with numerous studies, publications and editorials, but we wanted to create a place where all the information relevant to the cat fund debate can be found in one place” says CEI Policy Analyst Verlan Lewis, the site’s administrator.

CEI is a non-profit, non-partisan public policy group dedicated to the principles of free enterprise and limited government.