Residents of the Lone Star State will tell you, “Don’t mess with Texas,” but clearly, Hurricane Harvey didn’t get the message this week. Now a tropical storm, heavy rain continues to pummel the Gulf Coast and parts of Louisiana, leaving billions of dollars of ruin in its wake.
The long-term effect of this disaster is unknown, but already, we’re seeing an impact on the energy industry. Yesterday, the U.S. Securities and Exchange Commission announced that it is working closely with market participants, key infrastructure providers and other regulators to assess the full impact, and it has set up a special complaints website for investors to report any suspicious solicitations.
In the meantime, though, residents of southeast Texas – some of whom may be your friends and/or relatives – are probably more concerned with assessing the damage to their homes, cars and workplaces, and wondering where they’ll get the help and supplies they need to clean up the mess. And some of you may be wondering how you can help.
Our friends at TD Ameritrade have announced that they will match client donations to the American Red Cross dollar for dollar, up to $500,000, doubling the impact of every dollar donated. If you are a TD Ameritrade client and would like to help, you can make your donation using this link. Of course, many other charitable organizations can use help too – for everything from feeding and sheltering humans to rescuing pets and either reuniting them with their owners, or relocating them to new homes.
To ensure your donations get used for their intended purpose, I encourage you to do your homework before writing a check. Charity Navigator enables you to vet charities before giving, by providing a rating system that examines metrics like financial performance, accountability and transparency, compensation of organizational leaders and more information about the charity’s mission. Responding to Hurricane Harvey, Charity Navigator is offering a list of highly rated charities seeking donations for their relief efforts.
At AMDG Financial, our thoughts and prayers are with those affected by Hurricane Harvey, and we hope for the safety and security of your loved ones and friends who may face tough times ahead as a result of the storm.