Aug. 31-The catastrophe in Texas is a man-made disaster accomplished by the criminal negligence of this nation's elected officials who have continued to support Wall Street's speculative economy and imperial ambitions, while arguing that the nation cannot afford to rebuild and replace its ancient and broken-down economic infrastructure. For the third time since 2005, major American cities have been flooded and their people devastated, because the plans for new infrastructure to protect the people, requiring tens of billions in investments, have been ignored and turned down. Hurricane Harvey now looms as the worst national disaster in our nation's history, and it is a disaster which did not have to happen. In 2005, Hurricane Katrina killed nearly 2,000 people and wreaked $130 billion in economic losses. Only then, slowly, new flood-control and seagate infrastructure was built-at last-for New Orleans, at a fraction of the human and monetary costs of the damage inflicted by the storm. How many unnecessary deaths and how much suffering could this project have averted? Four years later, the American Society of Civil Engineers met in Manhattan to discuss several storm surge barrier options for the New York City region. The estimate for the largest of these was $9 billion. The government decided to do nothing. Then, in 2012 Superstorm Sandy killed more than 100 people and caused $65 billion in economic losses. New York area residents are now going through a "Summer of Hell," as the 100-year-old regional transportation system, flooded and damaged five years ago, also was not repaired or replaced at the necessary pace. The staggering economic and human suffering caused by Hurricane Harvey in the Texas and Louisiana Gulf region are not yet known, and will grow in magnitude as the water recedes; but, what has been known for many years, is that Texas Gulf cities are flood-prone, and have been repeatedly flooded. Yet, no flood control or storm protection infrastructure has been built since the end of World War II. Plans for a new system for the Houston area had been drafted, but their $25 billion cost was deemed "too high" a price tag for our Wall Street-dominated agencies and elected officials. Now, hundreds of billions of dollars, and priceless human lives, are lost. All of these disasters, and others in the recent period, could have been averted for a fraction of their eventual cost in lost wealth, let alone in lost lives. The media insist to Americans that each city's disaster is caused by its particular economic habits, its choice of location, its squabbling jurisdictions, its ignoring of climate change, or its being close to water! This is nonsense. Wall Street, which has been bailed out repeatedly to the tune of trillions of dollars, with nothing but increased impoverishment of the American people to show for it, must no longer be allowed to dictate the economic policy of the United States of America. "The nation calls for action, and action now!" in President Franklin Roosevelt's words. During his presidency, and through the 1940s, the new infrastructure to prevent such "natural disasters" -such as the Tennessee Valley Authority-was funded by national credit, as through the Reconstruction Finance Corporation and the Works Progress Administration. Hurricane Harvey's drowning of cities in East Texas should be the national alarm which ends 70 years in which the country has been without any such national credit institutions.