It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by diggs
"Pull it!"
Originally posted by tuccy
Don't you think the insurance companies would be a bit reluctant to pay him his cheques had there been doubts?
Originally posted by tuccy
Originally posted by diggs
"Pull it!"
Btw how is it so that the term "pull" is used in CD business just with WTC7 while in every other case the term "pull out" or "pull" used by the firefighters means "evacuate hazardous area"? The same, AFAIK, in military.
Originally posted by tuccy
Originally posted by diggs
"Pull it!"
Don't you think the insurance companies would be a bit reluctant to pay him his cheques had there been doubts?
Here They Come Again
How Insurance Companies Exploited 9/11
By CHRISTOPHER BRAUCHLI
....One of the manifestations of this new found Congressional freedom was the Terrorism Risk Insurance Act of 2002.
9/11 cost insurance companies in excess of $40 billion, which was more than any single loss they had suffered prior to that day. They disliked sustaining such enormous losses and out of self-interest decided the government should do something to make sure they never again sustained such losses.
At first blush it seems odd that insurance companies would ask the government to butt into their internal affairs. Insurance companies are big business and big business takes pride in the free market system that works best when government intervenes least in the lives of people and corporations. The insurance companies were willing to make an exception in this case, however, because what they were asking affected their profit margins (so they said) and big business is willing to look the other way when it is asking the government to do things that makes them wealthy. (So are individuals who hold themselves out as being conservatives but that is not relevant to today's topic.)
The insurance companies said that without help from Congress (by which they meant the taxpayers,) insurance companies would decline to offer terrorism coverage to companies. They were not the least bit embarrassed to say this to Congress. 9/11 had nothing to do with something the big insurance companies did wrong and therefore, they concluded, it was not inconsistent with their general aversion to having the government get involved in their affairs, for them to go to Congress and ask for help And help they got. It was called the Terrorism Risk Insurance Act of 2002.
The Act provides that in the event of another terrorist attack insurance companies will be required to pay the first $10 billion in losses. In addition, in 2003 insurance companies will be responsible for paying a deductible equal to 7 percent of the premiums received the previous year. The deductible rises to 10 percent in 2004 and 15 percent in 2005. Above that the taxpayers are required to participate in future losses by paying 90 percent of all losses in excess of more than $10 billion up to a maximum of $90 billion. In 2004 the taxpayers' obligation drops to $87.5 billion and in 2005 it drops to $85 billion. There are other provisions but space does not permit their description with one exception. That exception is this. In 2005 the Act expires. That is something the insurance industry fears even more than another terrorist attack.
The industry says it cannot afford another 9/11 notwithstanding the following fact. According to the Consumer Federation of American, insurers reported a 66.4 percent increase in profits in the first six months of 2002 thus suggesting the consequences of 9/11 were not as dire for them as they were for thousands of others.
www.counterpunch.org...
Originally posted by BannedintheUSA
If I'm not mistaken I remember reading somewhere that just the 2 towers were insured and not the entire wtc complex. This makes sense because that's exactly want Silverstein was fighting over. He wanted $7.1 Billion but the insurance companies were only going to give him $3.55B. 3.55B is for each tower, not the whole complex so wtc 7 has nothing to do with it at all.
Originally posted by Rockpuck
but how did the government as a whole benefit? the soaring national debt shows the government lost money to the attacks.
Originally posted by Nikolaos2030
How many people have benefited.
A small list:
Arms dealers
Banks
Construction companies
Oil contractors
Gas contractors
Oil rig builders
Transnational corporations
Documentary makers (Discovery, National Georgraphic, Adventure 1, News agencies)
Just to name a few who have benefited not just from 9/11 but most wars too.
some other people benefited from the put options on both American Airlines and United Airlines just before 9/11.
Lots of people benefited. You just have to look.
[edit on 4/6/06 by Nikolaos2030]
Originally posted by Rockpuck
So a small few of corprate elite profit from 9/11 but how did the government as a whole benefit? the soaring national debt shows the government lost money to the attacks.
Originally posted by Rockpuck
Assuming of course that all the evidence that has been posted here on ATS to show the Government could be proven absolute fact and the government was behind 9/11, what have they gained?
In the years since 9/11 we have had 2 wars, maybe a third on the way, a not so stable economy, soaring oil prices, republican party has lost alot of support from their own members, including myself. How have the people behind this benifted in anyway from 9/11 directly? Bush has had alot of power consolidated in him but he can still only be president until 08.
Originally posted by tuccy
Btw how is it so that the term "pull" is used in CD business just with WTC7 while in every other case the term "pull out" or "pull" used by the firefighters means "evacuate hazardous area"? The same, AFAIK, in military.