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Article posted Sep 07 2006, 11:25 PM Category: Commentary Source: The Four Winds Print

Larry “Lucky Larry” Silverstein

By lifeforce@rockymountains.net

Related: Loose Change 2E: Nine Eleven... Was There A Conspiracy?You’ve got to be lucky to make $4 Billion killing on a 6-month investment of $124 Million

Larry Silverstein is the New York property tycoon who purchased the entire WTC complex just 6 months prior to the 9/11 attacks. That was the first time in its 33-year history the complex had EVER changed ownership.

Mr. Silverstein’s first order of business as the new owner was to change the company responsible for the security of the complex. The new security company he hired was Securacom (now Stratasec). George W. Bush's brother, Marvin Bush, was on its board of directors, and Marvin’s cousin, Wirt Walker III, was its CEO. According to public records, not only did Securacom provide electronic security for the World Trade Center, it also covered Dulles International Airport and United Airlines — two key players in the 9/11 attacks.

The company was backed by an investment firm, the Kuwait-American Corp., also linked for many years to the Bush family. KuwAm has been linked to the Bush family financially since the Gulf War. One of its principals and a member of the Kuwaiti royal family, Mishal Yousef Saud al Sabah, served on the board of Stratesec.

Now, consider: The members of a small cabal owned the WTC complex, controlled its electronic security, and also controlled the security not only for one of the airlines whose aircraft were hijacked on 9/11, but the airport from which they originated.

Another little “coincidence” -- Mr. Silversten, who made a down-payment of $124 million on this $3.2 billion complex, promptly insured it for $7 Billion. Not only that, he covered the complex against “terrorist attacks”.

Following the attacks, Silverstein filed TWO insurance claims for the maximum amount of the policy ($7B), based on the two -- in Silverstein's view -- separate attacks. The insurance company, Swiss Re, paid Mr. Silverstein $4.6 Billion — a princely return on a relatively paltry investment of $124 million.

There’s more. You see, the World Trade Towers were not the real estate plum we are led to believe. From an economic standpoint, the trade center -- subsidized since its inception by the NY Port Authority -- has never functioned, nor was it intended to function, unprotected in the rough-and-tumble real estate marketplace. How could Silverstein Group have been ignorant of this?

The towers required some $200 million in renovations and improvements, most of which related to removal and replacement of building materials declared to be health hazards in the years since the towers were built. It was well-known by the city of New York that the WTC was an asbestos bombshell. For years, the Port Authority treated the building like an aging dinosaur, attempting on several occasions to get permits to demolish the building for liability reasons, but being turned down due the known asbestos problem. Further, it was well-known the only reason the building was still standing until 9/11 was because it was too costly to disassemble the twin towers floor by floor since the Port Authority was prohibited legally from demolishing the buildings.

The projected cost to disassemble the towers: $15 Billion. Just the scaffolding for the operation was estimated at $2.4 Billion!

In other words, the Twin Towers were condemned structures. How convenient that an unexpected “terrorist” attack demolished the buildings completely.

WTC Building 7 was a part of the WTC complex, and covered under the same insurance policy. This 47-storey steel-framed structure, which was NOT struck by an aircraft, mysteriously collapsed 8 hours later that same day into its own footprint at freefall speed — exactly in the manner of the Twin Towers.

How could this have happened? Mr. Silverstein gave the world the answer when he slipped up during a PBS television interview a year later, on 9/11/2002:

"I remember getting a call from the...er...fire department commander, telling me that they were not sure they were gonna be able to contain the fire, and I said, 'We've had such terrible loss of life, maybe the smartest thing to do is pull it.' And they made that decision to pull and we watched the building collapse."

As anyone who knows anything about construction can tell you, “Pull” is common industry jargon for a controlled demolition.

One thing is for sure, the decision to 'pull' WTC 7 would have delighted many people. Especially because it has been reported that thousands of sensitive files relating to some of the biggest financial scams in history — including Enron and WorldCom -- were stored in the offices of some of the building’s tenants:


US Secret Service
NSA
CIA
IRS
BATF
SEC
NAIC Securities
Salomon Smith Barney
American Express Bank International
Standard Chartered Bank
Provident Financial Management
ITT Hartford Insurance Group
Federal Home Loan Bank


The Securities and Exchange Commission has not quantified the number of active cases in which substantial files were destroyed by the collapse of WTC 7. Reuters news service and the Los Angeles Times published reports estimating them at 3,000 to 4,000. They include the agency's major inquiry into the manner in which investment banks divvied up hot shares of initial public offerings during the high-tech boom. ..."Ongoing investigations at the New York SEC will be dramatically affected because so much of their work is paper-intensive," said Max Berger of New York's Bernstein Litowitz Berger & Grossmann. "This is a disaster for these cases."

Citigroup says some information that the committee is seeking [about WorldCom] was destroyed in the Sept. 11 terror attack on the World Trade Center. Salomon had offices in 7 World Trade Center. The bank says that back-up tapes of corporate emails from September 1998 through December 2000 were stored at the building and destroyed in the attack.

Inside WTC 7 was the US Secret Service's largest field office with more than 200 employees. "All the evidence that we stored at 7 World Trade, in all our cases, went down with the building," according to US Secret Service Special Agent David Curran.

What a neat, complete, and fortuitous turn of events was 9/11.

Incidentally, it’s worth noting that one of Lucky Larry’s closest friends — a person with whom it’s said he speaks almost daily by phone — is none other than former Israeli Prime Minister Benjamin Netanyahu.

More on that cozy little relationship later.





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Comments 1 - 20 of 38 Add Comment Page of 2 >
Anonymous

Posted: Sep 08 2006, 6:38 AM

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86138 It wouldn't be unusual to insure the buildings specifically against terrorist attacks since they had previously been subject to a terrorist attack in 1993.
Anonymous

Posted: Sep 08 2006, 7:05 AM

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64131 What nonsense. He may, and I doubt this as well, only have put in $124 of cash, but he had the debt of the entire cost. And the total value of the insurance was less than it will cost to re-build. It is quite common, and sensible, for a building owner to insure for *rebuilding* cost rather than purchase cost. Learn something about the world before you get in the conspiracy business.
Anonymous

Posted: Sep 08 2006, 7:39 AM

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129178 You obviously have no clue about real estate transactions, insurance, or security. I think there might have been something fishy going on with the whole 9/11 event but writing poorly supported articles like this only makes conspiracy people look like idiots. Some very good points about strange activity during 9/11 have been put forward, this is not one of them. Anyone can disprove this article in 5 minutes.

Silverstein did make a "small" down payment of 124 million or whatever it was but that means that he of course accepted the TOTAL transaction price which was something like 7 billion(could have been a billion more or less but that's irrelevant). That means that when the buildings fell he did receive money from the insurance but still OWED the complete loan taken out on the property. If you call investing 124 million and getting 4.6 billion billion in return while you still OWE 7 billion a great deal, you are not very good at math. Hint, that's a HUGE LOSS

When you change owners it's very common that you change security company. This is standard procedure and is not suspicious. If you move into a new house, would you ALWAYS keep the same security company as the previous owner even though you knew other companies were better/cheaper? Didn't think so

You must be an idiot not to insure WTC against all liabilities, including terrorism. Anyone would have done the same. Especially considering someone tried to take down the building in 1993. Nothing strange at all.

You don't know anything about suspicious and damaging documents being stored in WTC 7. It's just a rumor. There is also a rumor that the body of Jimmy Hoffa, the name of JFK's real killer, and proof of alien life was stored there. But those are just rumors.

The phrase "pull" could have meant other things than being a demolition term.

I've never heard that Port Authority tried to demolish the building but i could be wrong. Can you please link to some OFFICIAL documents that prove this without a doubt? Pointing to an article about asbestos will not count since that would be obvious.

Of course Silverstein tried to claim two attacks. If you have two houses valued a 500 000 each right next two each other and they burn down what would you do. Claim the money from one house? You still own the mortgage from TWO houses so this would mean a big loss

Before you write another poorly researched article, please keep this in mind. There might have been government involvement in 9/11 but how come we don't know anything about it? Thousands of people must have been involved to plant explosives in the buildings, hide/kill the people from flight 93, and plan the whole operation. As you know, the government is not capable of keeping any secrets so how come not one single person has come forward? Not even anonymously? Not one?

Have a nice weekend
Anonymous

Posted: Sep 08 2006, 8:17 AM

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1217 how do you explain demolishing WTC7 on the spot? it takes months to plan a perfectly executed controlled demolition. and these unqualified firefighters planned and set this demolition within hours? this guy publicly admitted on television telling firefighters to go ahead and pull building 7. since when are firefighters' engineers? only one floor was visibly on fire in building 7. its also worth noting that building 7 was not directly adjacent to the towers. there were buildings in between them that were NOT on fire....oh but those buildings werent owned by lucky larry. the fact is, if a fire is "uncontrollable" you let it die out. you stop fighting it and let it burn through the night. you dont go inside it set charges on every floor and demolish it while its still in flames.....bottom line, the charges for the demolition were set prior to 9/11. you make your own conclusions after that.
Anonymous

Posted: Sep 08 2006, 8:34 AM

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220233 Great article. Very informative and contained useful information!

Thanks.
Anonymous

Posted: Sep 08 2006, 2:16 PM

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65119 This is one of those things where what he did was pretty routine but could have been caused by foreknawldge. Keep it in the back of your mind but not really a major point in the 911 truth movement.
Anonymous

Posted: Sep 14 2006, 5:05 AM

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626 Great article.

It's a shame that when a governement conspires against it's own people the truth is so evil and unimaginable people simply will not accept it.

The truth is too evil to believe and so it's easier to dismiss everything as conspiracy nuts and believe the official line.

Ask the Jersey Girls (widows from 911) what they think about the whole thing after researching all the evidence for 4 years.

Anonymous

Posted: Sep 19 2006, 6:01 PM

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152163 I have always wondered about bldg. #7. Now I know.
How else could a building so far away fall as it did?
Thanks for the article.
I give a shit, do yo

Posted: Oct 06 2006, 12:33 PM

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7032 Government can't keep secrets?
Big Insurance pay offs?
A smart and seasoned billionaire using mistaken language while talking to the press?
Building WTC 7 falling at free fall as well as WTC 1 & 2?
Bush sitting for 6-9 minutes after being told to "America is under attach"?
Invading a country that had NOTHING to do with 9/11?
Haliburton getting no-bid contracts and some of the largest contracts in the Iraq war?
Patriot Act? Need more be said about this a wiretaps? He terrorists, we're taping the phones...that is laughable.
All this is NOT a conspiracy, it is all called INCONSISTENCY.
It is our right, for now, to question government decisions, we elect and pay them.
There are many coincidences that happen in this world but I still have not won the CA lottery and I'm still driving a vehicle that forces me to use oil...just think about it. I mean REALLY think about it.
globalstomp

Posted: Oct 09 2006, 4:58 AM

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The first three comments are obviously ignorant of some facts especially comment 129.178. I think this person doesn't want to accept the truth no matter what you tell them OR ELSE THEY ARE A BUSH SUPPORTER so then I will anyway. First the buildings were LEASED by Silversteen and were not an outright purchase. Second the buildings were really owned by the public and could not be sold but only leased. The port authority was given the maintanance and management tasks and the general oversight of the twin towers complex. They did look into the demolition of those towers but it was too costly due the fact the towers were obsolite and contaminated with asbestos and had fewer than sixty percent tenantcy. They were a giant turd as far as investments go and nobody would touch them unless something were to happened to them. Silversteen also cashed in on the whole 7 billion in insurance not the 4.6 as stated because the 4.6 billion was the first award and when Silversteens lawyers objected, the sum was raised to the 7 billion asked for and Silversteen has no obligation to rebuild. If you were in a car wreck and your insurance paid off you totaled car would you rebuild or by another? That's your descision. It is you 129.178 ( anonymous) who needs to check their facts. Building seven was not struck by a plane and no steel structure in history until 9/11 came down from fire. It doesn't take thousands of people to plant charges in those towers and the fact that many employees came foward and stated that day after day and floor after floor was being evacuated then reopened prior to 9/11 gives plenty of opportunity for charges to be placed then remotely detonated later. Also the bomb sniffing dogs were removed just before the evacuations process took place. This should cause a person of normal intelligence to wonder why. Then there's Bush's brother Marvin as the head of security, I don't believe in coincidence everything happens for a reason. Then there are the put options placed in advance of 9/11 that were 400 times the normal amount than ever before and that most of that money remains unclaimed to this day. Then the gold that was stored down in the basement of tower one was misrepresented by Guiliani as being recovered in the amount of 380+million found in a van abandoned near the second tower. The depositors of the gold were the United Arab Emerates or the Saudi's and the actual amount was estimated around 70 billion in gold bars so were did the other 69.6 billion go? Many documents from the IRS to Worldcom to top secret nsa docs were in building seven to someone's benefit. Pull it is a demolition term and can only mean bring the building down because the fire fighters were already out of the building in case you think it meant pull the firemen. The fire fighters said they could have extinguished the fire easily but Silversteen made the descision not the fire fighters to pull the buildings down remotely. Like one commenter pointed out you can't set charges in a building that is on fire and it also takes weeks to so by a demolition company or the Military. (thermate found). If you do the research most of these statements can be found in public documents, bank records, and eye witness testimony. WAKE-UP MAN YOUR GOVERNMENT IS RUN BY OPPORTUNISTIC, PERVERTED, SADISTIC CRIMINALS THAT WILL STOP AT NOTHING TO ACHEIVE THEIR GOALS. BILLIONS IN GOLD, BILLIONS IN INSURANCE, MILLIONS IN PUT OPTIONS, A PRETEXT FOR WAR AND THE DESTRUCTION OF OUR CONSTITUTION UNDER THE GUISE OF SECURITY TO KEEP US SAFE BUT ACTUALLY IT'S FOR WORLD CONTROL ALL AT THE COST OF THOUSANDS OF INNOCENT LIVES. THIS NOT A CONSPIRACY GAME YOU JUMP INTO IT'S THE TRUTH AND 19 HYJACKERS WITH BOX CUTTERS FROM SOME CAVES IN AFGANISTAN IS THE ACTUAL CONSPIRACY. THE REAL TERROIST ARE IN THE WHITE HOUSE!
Fight or Flight

Posted: Oct 09 2006, 8:06 AM

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21658 Please excuse me,if I can add my 2 cent$.
- Marvin Bush, Butt Walker had a hand in getting and arranging the mortgages and Insurance policies for all Silverstinks WTC bldgs.
- Marvin Wanna B. Heb Bush,inturn got all security of the WTC bldgs and the Boston airport from which the doomed plains took off.
Try this Quizz,if your loved one got a million $ insurance policy on your life and in 6 months found dead--would the insurance Company payout without court hearings and investagations ?--fat chance--no way !
Anonymous

Posted: Oct 14 2006, 11:40 AM

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6878 I'm reading conflicting stories on Silverstein's rights. Did he own or rent from the Port Authority ? I had heard he leased them in such because a sale would include property of the Port Authority that cannot be privatized. Also I had read that the bids for control of the WTC buildings was won by Vornado but they backed out last minute and lucky Larry won the bid.

Has anyone looked into Larry's connections in Washington ? He is the builder of the Ronald Reagan Building in D.C. This building is also called the World Trade Center. Somewhere in his real estate dealings he is in contact with the people to make this happen.
Anonymous

Posted: Nov 28 2006, 11:46 PM

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21126 Look into also the fact that Lewis M Eisenburg gave larry Silverstein and Frank Lowey the 99 year contract DESPITE they were the lowest bidders....

Also./.. All 3 are chairpeople for a particular organisation with a lot of contacts in New York and israel. The ADL. All roads lead to israel on 9-11...
Anonymous

Posted: Feb 25 2007, 10:56 AM

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201160 NOTE: "lucky Larry" , and his henchmen had six (6) months to plan for action, after the formal purchase of WTC, naturally the "plan" took more time to hatch from it's initial approval ... note that US middle east "plan" is most likely decades old ...
zafada

Posted: Feb 28 2007, 2:00 PM

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15543 you can say the majority of these things are rumors but who created them?
imagination can, but what about all of the government officials who've come forward with information on alien life and many other things humans are ignorant of? did you notice that the majority of them end up dead from 'suicide'?
Anonymous

Posted: Apr 26 2007, 5:26 PM

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64183 "I've never heard that Port Authority tried to demolish the building but i could be wrong. "

A. Your whole argument is wrong.

B. Why don't you show proof stating otherwise?

You won't for the same reason you failed to in your post; there isn't any! STFU noob!

We want a new independent investigation NOW! Screw the 911 Commission joke report!!
Anonymous Anonymous

Posted: May 24 2007, 11:04 AM

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212129 Eitherway - when are you gonna start the revolution..?
Anonymous Anonymous

Posted: May 24 2007, 11:04 AM

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212129 Eitherway - when are you gonna start the revolution..?
Anonymous

Posted: Jul 08 2007, 4:00 AM

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60234 What is interesting about Larry and 911 is all flights across the USA were grounded and the CIA were conducting a training exercise on that very day, the exercise was... get this, " The CIA were under going a test to see what would happen if some airplane was to fly into the twin towers. Incredible but and then it happened." Believe that, it is what the CIA said they were doing, hence all flights grounded including NORAD.

And Larry on national TV did say they pulled the building 7. As the Mayor of New York did say " when we knew the buildings were going to come down! we evacuated.
The share market was the truth about who knew.
Anonymous

Posted: Nov 05 2007, 4:34 PM

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6881 It's difficult to get people to understand that the WTC towers were photographic successes but not really desirable rental properties.

Trying to pick up info on the web about the attempt by the Port Authority to DEMOLISH them prior to the lease to Silverstein.

Anyone have any links to this info about asbestos ---
and also the GALVANIZING OF THE ALUMINUM SIDING????


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