September 12, 2001: WTC Leaseholder Already Wants to Claim Double Insurance for Attacks and RebuildOn the day of 9/11, when the entire nation is in shock from the mass murders and a lot of the world is worrying which country will feel the USA's wrath, what's 'Lucky' Larry up to?
Developer Larry Silverstein, who recently took over the lease of the World Trade Center (see July 24, 2001), later tells journalist Steven Brill that he’d been so sickened by the destruction on 9/11, and by the deaths of four of his employees in the WTC, that he did not focus on insurance or financial matters until “perhaps two weeks later.” But according to two people who call him this morning to offer their sympathy, Silverstein soon changes the subject: “He had talked to his lawyers… and he had a clear legal strategy mapped out. They were going to prove, Silverstein told one of the callers, that the way his insurance policies were written the two planes crashing into the two towers had been two different ‘occurrences,’ not part of the same event. That would give him more than $7 billion to rebuild, instead of the $3.55 billion that his insurance policy said was the maximum for one ‘occurrence.’ And rebuild was just what he was going to do, he vowed.” By mid-morning, he calls his architect David Childs, and instructs him to start sketching out a plan for a new building. He tells Childs to plan to build the exact same area of office space as has been destroyed. In fact, Silverstein’s lawyers claim the developer had been on the phone to them on the evening of 9/11, wondering “whether his insurance policies could be read in a way that would construe the attacks as two separate, insurable incidents rather than one.” [BRILL, 2003, PP. 18-19 AND 39-40; REAL DEAL, 1/2004]
Buggering his insurance companies to read the policy 'Lucky' Larry bought only weeks before to pay for two occurrences on 9/11. Around the world, but especially in the USA, millions and millions are mourning, thinking of the fragility of life and calling loved ones, but not 'Lucky' Larry! He's trying to make this tragedy payoff like a fixed Las Vegas slot machine.
All of those hundreds of millions Silverstein would have had to pay to clean out that asbestos from the WTC is no longer a problem, it's a cash bonanza. Lucky indeed.
As for the morning of 9/11, what was 'Lucky' Larry up to? In the past, he'd been a regular to the WTC, visiting his properties and even having breakfast with his kids at the WTC restaurant "Windows on the World,"
Not on 9/11, as 'Lucky' Larry is away at a dermatologist's office, just like his kids, absent for that one day.
Boy, that kinda 'luck' must run in the family, eh?
WTC leaseholder Larry Silverstein is supposed to be working today in the temporary offices of his company, Silverstein Properties, on the 88th floor of the North Tower. However, at his Park Avenue apartment, Silverstein’s wife reportedly “laid down the law: The developer could not cancel an appointment with his dermatologist, even to meet with tenants at his most important property.” [NEW YORK OBSERVER, 3/17/2003; NEW YORK MAGAZINE, 4/18/2005] He is therefore not at the WTC when it is hit, and first hears of the attacks when an associate calls him from the lobby of one of the WTC buildings. [REAL DEAL, 1/2004] Two of Silverstein’s children—his son, Roger, and daughter, Lisa—work for his company and have been regularly attending meetings with WTC tenants at Windows on the World (the restaurant at the top of the North Tower). Yet this morning they are running late. According to the New York Observer, “If the attack had happened just a little later, Mr. Silverstein’s children would likely have been trapped at Windows.” [NEW YORK OBSERVER, 3/17/2003]Gosh, how does someone get to be as lucky as 'Lucky' Larry?
As lucky as one of those Wall Street "Too Big to Fail" banks Citigroup, that prior to 9/11, was being investigated by the SEC for possible fraud? Lucky for them, when WTC 7 was "taken down," all those confidential SEC files about the Citigroup investigation are destroyed.
Curiously, given all the Wall Street scandals later in the year, Building 7 housed the SEC files related to numerous Wall Street investigations, as well as other federal investigative files. All the files for approximately 3,000 to 4,000 SEC cases were destroyed. Some were backed up in other places, but many were not, especially those classified as confidential. [NEW YORK LAW JOURNAL, 9/17/2001] Lost files include documents that could show the relationship between Citigroup and the WorldCom bankruptcy.According to the NIST, the steel in the World Trade Center only had to weaken, NOT MELT. Why does this video show molten steel dripping out of the north side of the South Tower just moments before its collapse?