September 11The US was blindsided on September 11, 2001 when two commercial airlines crashed into the World Trade Center in New York, killing over 3,000 people. The effects were catastrophic, and total insurance claims are estimated at $40 billion. The resulting cancellations of travel plans pushed four airline carriers into bankruptcy, and many others to the brink. The event pushed the US economy into a deeper recession. Was it foreseeable? |