The 9/11 Attacks on the World Trade Center (WTC): Unspoken Financial
Bonanza
By Prof Michel
Chossudovsky
Global
Research, September 04, 2015
12 March
2004
Region: USA
Theme: 9/11 & 'War
on Terrorism', Global
Economy
http://www.globalresearch.ca/the-9-11-attacks-on-the-world-trade-center-wtc-unspoken-financial-bonanza/30554
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Author’s note
This article was first published by
Global Research on 12 March 2004 under the title ”Financial Bonanza
behind the 9/11 Tragedy: Who are the Financial Actors behind the WTC?” On
September 11, 2015, we will be commemorating the tragic events of 9/11.
The original URL was http://globalresearch.ca/articles/CHO403B.html.
The
article focussed on “verifiable facts” available in the wake of the 9/11
attacks.
The
Article presented a short timeline of major financial transactions pertaining
to the WTC implemented in the months preceding the September 11, 2001 attacks.
Three
major interrelated transactions occurred involving the Blackstone Group, the
New York and New Jersey Port Authority, Silverstein Properties, Westfield
America Inc.
Michel Chossudovsky, September
4, 2015
*
* *
1. On October 17, 2000, eleven months
before 9/11,
Blackstone
Real Estate Advisors, of The Blackstone
Group, L.P, purchased, from Teachers
Insurance and Annuity Association, the participating mortgage secured by
World Trade Center, Building Seven.1
Transactions
2. On April 26, 2001
The
Port Authority leased the WTC for 99
years to Silverstein Properties and Westfield America Inc,
The
transaction was authorised by Port Authority Chairman Lewis M. Eisenberg.
This
transfer from the New York and New Jersey Port Authority was tantamount to the
privatization of the WTC Complex. The official press release described it as
“the richest real estate prize in New York City history”. The retail space
underneath the complex was leased to Westfield America Inc.2
3. On 24 July 2001, 6 weeks prior to
9/11
Silverstein
took control of the lease of the WTC following the Port Authority decision on
April 26.
Silverstein
and Frank Lowy, CEO of Westefield Inc. took control of the 10.6
million-square-foot WTC complex. “Lowy leased the shopping concourse called the
Mall at the WTC, which comprised about 427,000 square feet of retail space.”3
Explicitly
included in the agreement was that Silverstein and Westfield “were given the right to rebuild the
structures if they were destroyed“. 4 (emphasis added)