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Disaster's Aftermath.(World Trade Center and Pentagon Attacks, 2001)(Brief Article)
According to the New York Daily News, the Sept. 11 terrorist attack on the World Trade Center in New York inflicted $60 billion worth of property and casualty losses on New York City. The human toll is even more staggering. The firm of Cantor Fitzgerald, a mortgage-backed securities player, lost more than 700 of its employees. That firm alone estimates that some 1,500 children of its employees lost a parent in the attack, according to the New York Times. About 6,000 are confirmed or presumed dead as a result of the massive attack in New York City.
Across the country, firms are getting back to work. From Lower Manhattan to Seattle, companies are feeling the effects of the attacks, but they are also heeding the advice of leaders such as President George Bush and New York Mayor Rudy Giuliani: if the terrorists make us live in fear, they have succeeded.
But for companies directly affected by the attack on the world's capital of
free enterprise, business may never be the same. And for companies everywhere, the fallout is still taking shape.
A weak economy just got weaker. Uncertainty about future economic conditions is now magnified. The mortgage industry, which had before Sept. 11 weathered the current economic slowdown better than almost any other segment of the economy, will not be exempted from ...
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Source: HighBeam Research, Disaster's Aftermath.(World Trade Center and Pentagon Attacks,...