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Picking Up the Pieces from Katrina: What Lies Ahead
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******************************** Picking Up the Pieces from Katrina: What Lies Ahead http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1281 When Hurricane Andrew struck south Florida in 1992, it caused what was then the largest natural disaster in American history, with more than $30 billion worth of damage. The economic fallout from Hurricane Katrina -- which last week ravaged New Orleans, La., and the Gulf coast -- looks to be much larger; indeed, some estimates put the damages/losses as high as $200 billion. Still uncalculated is Katrina's effect on the oil and gas industry, insurers, real estate, tourism and the financial markets, not to mention the future of hundreds of thousands of people displaced by the storm. Wharton professors assess the impact of what is clearly the costliest natural disaster ever to strike the U.S.
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