Three years after Hurricane Katrina, the deputy chief of Army Corps of Engineers comments on how New Orleans is preparing for future storms. Plus, ClimateMaster introduces a device that uses geothermal power. Following are today's top videos:
Is New Orleans Prepared?
“We’ve improved the floodwalls, we’ve raised levees, we’ve built structures, so the improvements we’ve made since Katrina have been enormous. Now, are we at the point where we want to be? No. There’s still a whole lot of work that needs to be done, but we’re vastly improved over where we were for Katrina.”
--Chris Accardo, Deputy Chief, Army Corps of Engineers
Gone Forecasting
“I interviewed Harvey Rosenblum, head of research of the Dallas Fed—I asked him about the role of the Fed during the credit crisis, especially the issue of moral hazard which is government insulating investors from risk.”
--Steve Liesman, CNBC’s Chief Economics Reporter
Lazear On the U.S. Economy
“We’ve got a rainy day with some sunny numbers here—I don’t know if I’d call it bottoming-out. But I would certainly say that the economy is much more resilient than some have given it credit for, the other message is that trade is extremely important to us and the third is that the stimulus package has been working.”
--Edward Lazear, Chairman, Council of Economic Advisers
Geothermal Energy Heating Up
“This is something that works in all 50 states and is used widely in countries throughout the world. This is not the typical geothermal steam power that you tend to hear about—rather, it’s solar energy that is stored in the upper several hundred feet of the earth. The earth absorbs about half of the sun’s energy that falls, and we extract that energy to provide heating, cooling and water heating for homes and commercial buildings.”
--Dave Ellis, President, ClimateMaster
Maria’s Market Message
“Personal income and consumer sentiment may set the tone for trading on Friday on Wall Street—we’re headed into a long-holiday weekend. It was the government report on second quarter GDP that fueled the markets higher Thursday.”
--Maria Bartiromo, CNBC’s Closing Bell