Hurricane Sandy: New York City Faces $20 Billion in Damages by Frankenstorm?

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Hurricane Sandy came and left New York City much more than disheveled. Frankenstorm has caused massive power-outages across the city and has crippled the city's subway transit system.

According to an article in New York Daily News, the damage is likely to cause $20 Billion. Hurricane Sandy came and left streets flooded, houses destroyed and power out in many areas in the tri-state area.

According to a statement released by the MTA, the storm has flooded a few subway tunnels. The MTA says that in 108 years, the damages caused by hurricane Sandy were the worst yet.

According to Bloomberg Business, Metropolitan Transit Authority Chairman Joe Lhota said, "I can say unequivocally that the MTA last night faced a disaster as devastating as it has ever faced in its history," at a conference Tuesday.

At the same news conference, New York City Mayor Michael Bloomberg announced that the complete restoration of the New York metro transit system might take as many as three to four days at best.

The bus system in certain areas of the city has started up Tuesday.According to the Wall Street Journal, trains of 2, 3, 7 and F running on diesel pumps started running Tuesday as well.

Patrick Foye, the executive director of the Port Authority of New York and New Jersey told the Wall Street Journal, "There was flooding on the east end of the airport right now and possible damage to the north dike."

The report suggests that John F. Kennedy airport will open 7:00 am Wednesday morning.

The entire report from the MTA can be found here.

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