WHY BUILDING 7?
WHY BUILDING 7?
WTC 7 was intentionally demolished so that all the evidence against the corporate elite would be destroyed and could not be used against them in a court of law. The destruction of Building 7 meant the destruction of evidence. Which housed 1000’s of documents relating to numerous SEC investigations. It may have been the command post to which 9/11 was planned and it also housed The Office of Emergency Management (OEM), also known as Rudy’s Bunker.
ONGOING SEC INVESTIGATIONS
SEC & EEOC: Attack Delays Investigations
SEC: No Records Whatsoever Regarding Destroyed WTC 7 Investigation Files
There were a series of seven actions undertaken by the Federal Reserve during the days and weeks that followed the attack on the WTC which served the purpose of covering-up the settlement and refinancing the fraudulent 10 year Durham/Brady Bonds which came due on September 11. Those actions include:
1. the Commission for the first time invoked its emergency powers under
Securities Exchange Act Section 12(k);
2. SEC lifted “Rule 15c3-3 – Customer Protection–Reserves and Custody of Securities” which allowed them to suspend all reporting and identity security controls;
3. The SEC temporarily injected $300 Billion into the US money supply while
settling the fraudulent securities;
4. Government Securities Clearing Corporation sent a memo to banks encouraging them to make security ‘substitutions’ on “immediately maturing collateral;”
5. Government Securities Clearing Corporation treated the ‘fails’ as two separate groups, suggesting there was a large group of trades that required ‘special treatment’ for “other” problems;
6. GSCC issued another memo allowing blind broker settlements. A “blind broker” is a mechanism for inter-dealer transactions that maintains the anonymity of both parties to the trade;
7. SEC held an unusual “snap” auction of new ten-year securities to facilitate sale of government securities probably used to refinance the fraudulent Durham/Brady Bonds.
Black Eagle Trust Fund
“On that fateful day, the Securities and Exchange Commission declared a national emergency, and for the first time in U.S. history, invoked its emergency powers under Securities Exchange Act Section 12(k) easing regulatory restrictions for clearing and settling security trades for the next 15 days. These changes would allow an estimated $240 billion in covert government securities to be cleared upon maturity without the standard regulatory controls around identification of ownership.”
“Experts Urging Broader Inquiry in Towers’ Fall”
The New York Times revealed in November 2001 that Building 7 was the location for a secret CIA office and Sensitive Compartmentalized Intelligence Facility (SCIF). SCIFs are where the most sensitive intelligence information is stored. These facilities are routinely swept for electronic listening devices. They may even have bullet proof windows, air filtration, and independent water supply. Operatives would routinely meet following a classified operation in a SCIF to debrief and identify loose ends to maintain program integrity.
Enron and 9-11; Connecting the Dots
“The SEC has not quantified the number of active cases in which substantial files were destroyed. 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. The EEOC said documents from about 45 active cases were missing and could not be easily retrieved from any backup system.”
SEC & EEOC:
Attack Delays Investigations
“The SEC has not quantified the number of active cases in which substantial files were destroyed. 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.
The EEOC said documents from about 45 active cases were missing and could not be easily retrieved from any backup system. One of these cases was a sexual harassment charge filed on Sept. 10 against Morgan Stanley, one of the prime corporate victims of the World Trade Center disaster.”
WTC 7 TENANTS
Salomon Smith Barney occupied all but 10 of the 47 floors in Building 7. SSB also occupied most of floor 23 where the OEM was located. Oddly enough both Dick Cheney and Donald Rumsfeld were board members of SSB. In fact, Donald Rumsfeld served as chairman of the SSB advisory board since its inception in 1999, but had to resign in 2001 when he was confirmed as Bush’s defense secretary. Cheney also resigned from the board upon becoming Bush’s Vice President. Once again 37 out of 47 floors inside WTC 7 were occupied by SSB, a company formerly run by Dick Cheney and Donald Rumsfeld.
Tenant Square Feet Leased Floor Industry
Salomon Smith Barney 1,202,900 GRND,1-6,13,18-46 Financial Institutions
Internal Revenue Service Regional Council 90,430 24,25 Government
U.S. Secret Service 85,343 9,10 Government
American Express Bank International 106,117 7,8,13 Financial Institutions
Standard Chartered Bank 111,398 10,13,26,27 Financial Institutions
Provident Financial Management 9,000 7,13 Financial Institutions
ITT Hartford Insurance Group 122,590 19-21
First State Management Group, Inc 4,000 21 Insurance
Federal Home Loan Bank 47,490 22 Financial Institutions
NAIC Securities 22,500 19 Insurance
Securities & Exchange Commission 106,117 11,12,13 Financial Institutions
Mayor’s Office of Emergency Mgmt 45,815 23 Government
Profile: Office of Emergency Management (OEM)
Giuliani Improvises After Command Center Gets Hit
The Secrecy-Shrouded Building Holding Giuliani’s Command Center
Ownership, Control, and Insurance of The World Trade Center
Was it carelessness, ignorance or just oversight that NIST neglected to mention with any detail the significant build out by Salomon Brothers, which leased over 64% of the building? Was the addition of over 375 tons of steel, used to reinforce girders and create ‘a building within a building’ deemed an insignificant factor in the integrity of the building?
From the NIST report:
Renovations were made in 1988 and 1989 to the space leased by Salomon Brothers Inc. in WTC 7
From a NY Times article dated February 19, 1989:
COMMERCIAL PROPERTY: The Salomon Solution; A Building Within a Building, at a Cost of $200 Million
“Before it moves into a new office tower in downtown Manhattan, Salomon Brothers, the brokerage firm, intends to spend nearly two years and more than $200 million cutting out floors, adding elevators, REINFORCING STEEL GIRDERS, upgrading power supplies and making other improvements in its million square feet of space.”
”We built in enough redundancy to allow entire portions of floors to be removed without affecting the building’s structural integrity, on the assumption that someone might need double-height floors,” said Larry Silverstein.
“More than 375 tons of steel – requiring 12 miles of welding – will be installed to reinforce floors for Salomon’s extra equipment.”
1. Salomon Smith Barney: leased over 1 million square feet in building 7. The firm was under investigation for its stock ratings and alleged securities fraud. Settled for $400 million in 2004. (Source)
“Jack Grubman, Smith Barney’s former telecom stock analyst, resigned from his position in August 2002, due to professional and personal hardship brought on by investigations into his stock ratings. Grubman maintains that he acted in line with fair dealing standards and published ratings he believed to be accurate. His ratings had a history of being highly respected and trusted by investors. However, as telecom stock values fell, his bullish ratings were accepted with growing hesitation. By the time Grubman lowered his ratings of nearly worthless stocks from “buy” to “neutral,” investors had lost millions. In one telling example, Global Crossing, which was rated at “buy” until October of 2001, went bankrupt only four months later (January, 2002). Grubman’s ratings of WorldCom also remained high during the telecom bust and were not dropped until March of 2002, just months before the company’s collapse. In April of 2003 Grubman was fined $15 million and barred from serving in the securities industry by the SEC and other regulators.” (Source)
Other companies given strong buy ratings included:
* 24/7 Media
* Adelphia Business Solutions
* FLAG Telecom Holdings, Ltd.
* Focal Communications
* Global Crossing
* Level 3 Communication, Inc.
* McLeodUSA, Inc.
* Metromedia Fibre Network International
* Quokka Sports (Ibid)
* Williams Communication Group
* Winstar Communications
* XO Communications Group
* Smith Barney Settlement
“Global Crossing was brought public in 1998 by Smith Barney. The company, which aimed to lay global fiber-optic telecom cables, received frequent advising from Grubman. He advised Global Crossing on its purchase of Frontier Communications, its attempted takeover of US West, and its choice of Robert Annunziata as CEO. Grubman continued to publish ratings on Global Crossing stock, even though he was personally involved in the company. He has faced intense criticism and even lawsuits because he gave the company “buy” ratings, apparently out of a conflict of interest, through nearly the entire length of the its collapse. These “buy” ratings weren’t dropped until October of 2001. Shares were valued at one dollar by this time. Global Crossing declared bankruptcy in January of 2002.” (Ibid)
Even more interestingly, Citigroup, which owned Smith Barney, had Dick Cheney and Donald Rumsfield on its Board of Directors until January 2001. Citigroup experienced 45 times its normal trading volume in the days leading up to 911.