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Sandy Will Cost Flood Program Up To $12B, FEMA Says

By Bibeka Shrestha (November 14, 2012, 8:04 PM EST) -- A Federal Emergency Management Agency official said Wednesday the government-backed flood insurance program expects to take a $6 billion to $12 billion hit from Hurricane Sandy, making it very likely the heavily indebted program will soon turn to Congress to raise its borrowing authority....

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