The Economic Impact of Hurricane Sandy
Friday, November 02, 2012
Four days after Hurricane Sandy turned the New York metropolitan area on its head, estimates for the economic damage are coming in as high as $50 billion — making it one of the costliest storms on record.
New York City — especially Lower Manhattan — was hit hard and is still experiencing power outages, transit disruptions and polluted, standing water that will take days or weeks to resolve.
This week on WNYC's Money Talking, contributors Joe Nocera of The New York Times and Rana Foroohar of Time magazine weigh in on whether the superstorm has some people rethinking if New York City should remain the nation's financial center.
These days, much the trading on the New York Stock Exchange is done electronically in New Jersey, so would anyone even notice if the trading floor moved to the Garden State?
Plus, what the megastorm means for next week's presidential election.