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Brian,
Silverstein had to make a 660 million dollar up front payment on the
deal, I used to work for Merrill Lynch Hubbard and Integrated
Resources. We would design these kinds of RE deals. Perhaps there was
a public limited partnership to raise funds, or perhaps there was
hypothecation of all of Silverstein's other holdings in order to
secure the loan, or maybe somebody has mighty deep pockets. From what
I know about Silverstein, it wasn't the latter. If he mortgaged the
cash flow on the WTC to come up with the 660 million down payment or
lined up some kind of syndicate of investors, highly unlikely in the
market of the last 12 months, I do not know. However, somewhere in
this process, a bank lent money. Do you really think that bank isn't
going to recover every penny from an insurer? Banks must manage risk
effectively just like any other business.
As far as trading on 9/11/01, the incident happened before the market
opened (9:30 am NY time), markets stayed closed for a week. The only
trading that could have taken place on 9/11 was the Instinet or
Island ECN pre-open trading (7:30 am). I don't think that is where
the "stink" comes from. The unusual trading that took place the prior
week or on 9/10/01 in stocks directly effected by the attack require
closer scrutiny. However, if I am looking to make some strategic
trades in specific stocks tied to some future event nobody but me
knows about, I sure as hell wouldn't make big trades near the date of
the event. I would have carefully covered my tracks so as to not draw
alot of attention. Surely an investigation into "insider" trading is
going to draw alot of attention because it leads directly to
culpability for the attack, or at least, blood on your hands for not
warning people of the attack. In either case, the party doing the
unusual trading loses. Cui bono?
For myself, the beneficiary in all of this is the government and the
individuals who control it. People now gladly submit to all kinds of
eavesdropping and monitoring, whereas they would have raised hell
before. Certainly construction companies, defense contractors and
security companies are going to have a banner year.
Brian, in all honesty, outside of closing down the federal reserve,
do you know of any event that would not in the long run result in
more profit for Citibank and Chase?
--- In [EMAIL PROTECTED], Brian Downing Quig <[EMAIL PROTECTED]> wrote:
> How wonderful the internet is that writings that appear at first
glance to
> include all the bad guys but are really flimsy and wrong can be
debunked in
> mere hours!!
>
> In the search for the answer to that most important of all
questions after a
> crime --- WHO BENEFITED? --- your clarification serves many.
>
> I am never more grateful as when someone can show me where I have
been
> wrong. I would like to hear from anyone who has better information
than I
> have. I am constantly revising my working hypotheses because
others are
> constantly showing me where I am wrong. They are what make my
information
> what it is.
>
> Someone some as sharp as you should as an exercse in analysis
should make one
> list of WINNERS and one list of LOSERS. Then we should start
calling the top
> executives of each group to see what they know.
>
> I am told activity in the stock market in some areas was 100 times
a regular
> day on Sept 11. Insurance Companies and Airlines on one list and
Defense
> Companies on the other list is a beginning.
>
> Brian
>
>
>
>
>
> [EMAIL PROTECTED] wrote:
>
> > Brian,
> >
> > Whether it was Silverstein or The Port Authority, the building
would
> > have been insured regardless. Do you really think it would have
made
> > any difference who owned it.
> >
> > Silverstein does not own it; instead he had a 99 year lease to
> > collect the rents and maintain the site. Silverstein paid 660
million
> > up front and was bound to pay the balance to 3.2 billion over the
> > next 99 years. The deal made sense because Silverstein is a savvy
NY
> > real estate player and his organization would have moved much
faster
> > in terms of maximizing the profits on the site.
> >
> > I can tell you that since the WTC was finished in the early 70's,
it
> > always had leasing difficulties. The state of NY kept a lot of
> > government offices in the towers. The offices were decorated in
that
> > tasteless plain vanilla civil service decor that literally drained
> > the desire to make progress from your mind; however, in recent
years
> > with the roaring bull market and the addition of the World
Financial
> > Center, the site had those three qualities that make real estate
> > quite valuable - location, location, location.
> >
> > Silverstein would have never considered demolition of the site to
> > erect a new structure. Chappy is so far off on this that I
wouldn't
> > even dignify his assertion by talking further about it. Here is a
> > structure that is 30 years old; it has 200+ 50,000 square foot
floors
> > in the very heart of the financial district of the most important
> > business location on the planet. Yeah, Silverstein was going to
knock
> > it down and put up something new - the J.S. Chiappalone Institute
for
> > the Delusional and Mentally Insane.
> >
> > It is quite usual that in order to entice a top of the line
> > commercial tenant like a Merrill Lynch or Smith Barney, you give
them
> > an improvement allowance on their space. For instance, If my
tenant
> > is signing a 10 year lease beginning at $75@sqft for 100,000 sqft
of
> > space, I may give them a work letter of 150$ per sqft and a
period of
> > free rent so they can refurbish the space to their liking. I am
> > certainly not going to raze the building.
> >
> > If you look at other office complexes in the city, you will note
that
> > most of them are older and less strategically located. Have you
heard
> > of anybody wanting to demolish the Radio City Complex in Midtown,
or
> > the Empire State Building on 34th St. Fat chance.
> >
> > Again, I must reiterate, the people who are on the hook in these
> > cases are the insurers. Chiappalone is so full of shit that he
has to
> > wear ear plugs to keep the brown stains off the shoulders of the
> > flowing white robes he wears in between trips to the liquor store
for
> > medication.
> >
> > --- In [EMAIL PROTECTED], "Brian Downing Quig" <[EMAIL PROTECTED]> wrote:
> > > Mark,
> > >
> > > Very interesting. I have never heard of this guy and for good
> > reason.
> > >
> > > But are his facts correct? I posted it to find out. Some
things I
> > have
> > > heard support these facts.
> > >
> > > Brian
> > >
> > > [EMAIL PROTECTED] wrote:
> > >
> > > > Brian,
> > > >
> > > > If you want to believe "Doc" Chiappalone, then you must
believe
> > that
> > > > the world will end in about 15 to 20 years and that the souls
of
> > > > the "viable" humans are being sucked up into God's bosom. In
other
> > > > words, the author of the article you cite is another
eschatologist
> > > > with an agenda. I once emailed this asshole and bet him the
world
> > > > would still be here in twenty years.
> > > >
> > > > Needless to say, Chiappalone would not make the bet. The guy
does
> > not
> > > > like to be questioned. I also pointed out to him that it was
> > mighty
> > > > handy that at his current age (somewhere in his sixties) he
could
> > > > reasonably expect to be dead in 15 to 20 years.
> > > >
> > > > read the following:
> > > >
> > > > mark urban wrote:
> > > >
> > > > make the bet $100 that there will be no end of the world by
2018;
> > > > rest of the terms stay the same. I'll be 61 years of age; how
old
> > > > will you be?...
> > > >
> > > > The Heavens Gate folks along with Jim Jones's acolytes all
> > believed
> > > > the end times were upon them, and, in a certain way, they
were...
> > > >
> > > > Men, some very intelligent and erudite, have been claiming
that
> > the
> > > > end is neigh in every generation. It is a phenomenon I
attribute
> > to
> > > > the personal observation that one's life may end and have
little
> > or
> > > > no meaning...
> > > >
> > > > Richard Feynman used to walk around depressed in the late 40's
> > > > because he was sure, sure in only the manner a brilliant
physicist
> > > > could be sure, that the world would be blown to pieces in a
> > nuclear
> > > > conflagration. If he was so sure and so wrong, what about your
> > odds?
> > > >
> > > > My $100 bet stands. Forgive my ignorance of the timing you
> > indicated.
> > > >
> > > > At 04:56 AM 11/18/1999 +1100, Dr. Chiappalone wrote:
> > > > What rock are you hiding under?
> > > > Can't you read - the evidence is irrefutable.
> > > > The bet is really your spirit , and you have already lost!
> > > >
> > > > And by the way - the outer limit was 2018 - Can't you read?
> > > >
> > > > mark urban wrote:
> > > >
> > > > I'll bet you $100 in american money that no end of the
> > world
> > > > nonsense will
> > > > occur in the next thirteen years.... I'll come
> > > > by to collect in november 2112.
> > > >
> > > >
> > > >
> > > > --- In [EMAIL PROTECTED], Brian Downing Quig <[EMAIL PROTECTED]> wrote:
> > > > > IMF Gave Up Ownership of the World Trade Center Two Weeks
Ago!!
> > > > >
> > > > > Copyright 2001 (c) by J.S. Chiappalone
> > > > >
> > > > > The owners of the demolished World Trade Center in lower
> > Manhattan
> > > > acquired
> > > > > the buildings just two months ago under a 99-year lease
allowing
> > > > them to
> > > > > walk away from their investment in the event of "an act of
> > > > terrorism". The
> > > > >
> > > > > owners, Silverstein Properties and Westfield America - a
> > shopping
> > > > mall
> > > > > specialist - purchased the buildings from the Port
Authority of
> > New
> > > > York
> > > > > and
> > > > > New Jersey for Dollars 3.2bn in July and completed the
financing
> > > > just two
> > > > > weeks ago.
> > > > >
> > > > > Neither of the buyers would comment on terms of the lease,
but
> > such
> > > > a
> > > > > clause
> > > > > would be considered reasonable for the purchase of a
building
> > that
> > > > had
> > > > > already seen a terrorist bombing and was considered a
possible
> > > > future
> > > > > target.
> > > > >
> > > > > The lease document is understood to spell out certain
conditions
> > > > under
> > > > > which
> > > > > the lessees could walk away from their obligation to spend
> > Dollars
> > > > 200m in
> > > > > capital improvements and pay annual rental charges.
> > > > >
> > > > > It is understood that the buildings are insured for more
than
> > > > Dollars 3bn,
> > > > > enough to cover rebuilding costs. However, an executive
> > connected
> > > > to the
> > > > > buyers said: "Ultimately, the decision will be made by
> > politicians.
> > > > It is a
> > > > >
> > > > > state and federal government decision about whether or not
to
> > > > rebuild on
> > > > > the
> > > > > site." Larry Silverstein, chairman of Silverstein
Properties,
> > said
> > > > > yesterday that he was determined to rebuild on the
site. "It
> > would
> > > > be the
> > > > > tragedy of tragedies not to rebuild on this part of New
York,"
> > Mr.
> > > > > Silverstein was
> > > > > quoted as telling the Wall Street Journal.
> > > > >
> > > > > "It would give the terrorists the victory they seek," he
said,
> > > > adding
> > > > > that he felt a moral obligation to rebuild on the site.
> > Although
> > > > there
> > > > > have been
> > > > > some suggestions that the site should be left vacant as a
> > memorial
> > > > park,
> > > > > its
> > > > > location at the heart of America's financial capital means
it is
> > > > probably
> > > > > far too valuable to lie undeveloped. Copyright: The
Financial
> > Times
> > > > Limited
> > > > >
> > > > > IN other words, the real owners, the bank, Chase Manhattan,
> > > > CITIBANK, which
> > > > >
> > > > > is really the IMF... are off the hook. They got their
payoff
> > and
> > > > are out
> > > > > of
> > > > > it. These people don't LOSE money, they have 99 years to
make
> > > > money. If
> > > > > they'd told us earlier, we'd have gotten OUR kid out of the
> > > > building!
> > > > >
> > > > > THEY KNEW it was coming. Ben Chambers, of 47th floor said
last
> > few
> > > > weeks
> > > > > they've been making them have ESCAPE DRILLS! SOMEBODY
UPSTAIRS
> > > > KNEW!
> > > > >
> > > > > In other words, nobody was left holding the bag, the lessors
> > saved
> > > > a few
> > > > > billion tearing the old ratty thing down for free and
cheap. It
> > > > was a
> > > > > firetrap and they knew it, shafts and stairwells carried
heat.
> > > > NOBODY
> > > > > CARED
> > > > > what terrorists were going to DO to this bldg. It hadn't
been
> > > > owned by IMF
> > > > >
> > > > > Citibank and CHASE MANHATTAN for several WEEKS! The new
> > lessors can
> > > > > collect and rebuild.
> > > >
> > > >
> > > > Please let us stay on topic and be civil.
> > > > To unsubscribe please go to http://groups.yahoo.com/group/cia-
> > drugs
> > > > -Home Page- www.cia-drugs.org
> > > > OM
> > > >
> > > > Your use of Yahoo! Groups is subject to
> > http://docs.yahoo.com/info/terms/
> >
> > Please let us stay on topic and be civil.
> > To unsubscribe please go to http://groups.yahoo.com/group/cia-
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> > -Home Page- www.cia-drugs.org
> > OM
> >
> > Your use of Yahoo! Groups is subject to
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