Felix Salmon
says don't donate money to Japan
Give to Red Cross, Save the Children, Doctors Without Borders or your favorite Non-Governmental Organization (NGO).
It is a good point. If you designate funds for a particular expediture, the nonprofit is required to spend it that way. If you trust an organization enough to give a donation to help with the Japanese crisis, then you should trust them enough to give the donation without a specific designation and trust them to allocate it where it will help the most, even if it is a relief effort that doesn't dominate the 24 hour news cycle. I've worked for several non-profits and seen this internal struggle as money comes in for something that is high profile, but the organization itself struggles to pay rent and keep the doors open.