Frankenstorm, Hurricane Sandy | featured news

The U.S. federal agency in charge of disaster relief, under intense pressure to show the Obama administration can quickly respond to the devastation caused by the massive storm Sandy, said it has plenty of cash to deliver timely aid to the millions of people struggling to recover.

The eastern portion of the nation turned to emergency rescue, recovery and resupply Tuesday even as meteorologists warned that the danger from super storm Sandy will continue as the massive system works its way through the country.

Last year, during one of the GOP presidential debates, Romney seemed to indicate that he wanted to cut or even privatize the Federal Emergency Management Agency. At the time, his comments barely made a ripple. Now, with FEMA leading the rescue efforts after Hurricane Sandy, the question of what Romney would do with the agency if he were to become president suddenly seems a lot more salient. And suddenly Romney doesn’t want to talk about it, presumably because the prospect of gutting the budget for first responders or pushing them into the private sector wouldn’t be very popular when they are breaking their backs to help people after the hurricane.

A day after it launched a punishing strike on the East Coast of the United States, Superstorm Sandy remained a threat Tuesday. The storm made landfall along the coast of southern New Jersey on Monday night, but its mammoth size affected a much wider area -- and continued to do so as it shuffled northward toward Canada, leaving at least 30 U.S. deaths in its wake.

Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm....

With large portions of lower Manhattan still dark early Tuesday, U.S. stock exchanges said they were testing contingency plans to ensure trading resumes as soon as possible this week after Hurricane Sandy smashed into the East Coast.
U.S. markets will be closed for a second day, but the New York Stock Exchange said that despite reports that its historic trading floor suffered irreparable damage, no such damage has occurred and that contingency plans are being tested only as a safety measure.

Monster Storm Sandy slammed into the East Coast Monday, killing at least 16 people, hurling a record-breaking 13-foot surge of seawater at New York City and knocking out power to more than 7.5 million across the East Coast.

There has never been anything like it in modern American history, a natural disaster so massive and so close to election day, and for all their minutely-plotted moves there was nothing for the candidates and their strategists to do but improvise and hope for the best.

Hurricane Sandy is churning off the East Coast and is expected to join up with two other weather systems to create a huge and problematic storm affecting 50 million people. Here's a snapshot of what is happening or expected, state by state....

With Hurricane Sandy bearing down on the East Coast Monday, a number of major U.S. companies have postponed quarterly earnings as financial markets shut down for the first time since 2001....