Japan Disaster Is Costliest Ever

The final cost of Japan’s earthquake and tsunami are not quite certain—it figures to be between $200 and $300 billion—but, either way, the disaster will be the costliest ever. That distinction had previously gone to Hurricane Katrina, which caused $125 billion worth of damage to the New Orleans area. Japan’s high-end estimate comes from its government. The World Bank estimated a maximum cost of $235 billion.