This paper consists of nine pages from an accounting perspective and discusses how the World Trade Center terrorist attacks impacted upon Wall Street. There were three bibliographic sources cited.
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of The Terrorist Attacks and Its Effect on Wall Street Research Compiled for :Melody Bussey 11/01 to Use This Report Correctly: /aftersale.htm
September 11, 2001. Mention that date and most Americans quickly and grimly relate, not only what they were doing on the day the World Trade Center was attacked, but
will inevitably end the conversation with the calm assurance that the American people and the United States infrastructure will rebuild itself. But, is that possible? Some argue that this
is the worst disaster since Pearl Harbor, since the L.A. riots, and emphatically state that this is the most costly disaster the United States stock market has ever seen.
With that in mind, just how much of a direct hit did the economy take? The opinions differ greatly. Money Magazines Walter Updegrave reports that the New York Board
of Trades commodity exchange floor in the World Trade Center was destroyed with estimates ranging from $8 million to $25 billion (Updegrave, 2001). However, in the past, estimates given so
soon after a catastrophe may end up underestimating the costs. For example, in the wake of the 1994 earthquakes in California, early estimates were mentioned at around 2 billion dollars.
Those estimates were off by a margin of 13 billion (Updegrave, 2001). However, Updegrave goes on to reassure, stating that a section of the bill that was passed to
aid failing airline companies has had the double benefit of helping the insurance industries to also stay afloat. The bill provides for the establishment of a victims fund that
would compensate families of those who were killed or injured, on the condition that they give up the right to sue (Updegrave, 2001, October, p 130). According to Money Magazine,