Repairing damage

Many people are saying that Hurricane Katrina will cost more than September 11. At first glance, that looks right. The rebuilding and resettling after last month’s hurricane will be much more expensive than repairing the damage from the terrorist attacks on the US four years ago on Sunday. A good estimate of the direct cost of the World Trade Center attack – including lost business and reconstruction – is $46bn-$54bn, from the New York State budget office. In comparison, Katrina is expected to ...