Danielle was a guest today on The Financial Survival Network with Kerry Lutz discussing current trends in the world economy and markets. You can listen to an audio clip of the segment here.
Kerry Lutz wrote a worthwhile historical perspective piece on the World Trade Center this week:
“The World Trade Center’s inception can be traced back to the heady post-World War Two era. The idea was kicked around from the late 1940’s until the early 1960’s; New York’s then Governor Nelson Rockefeller seized upon the idea. When it came to legacies, Rockefeller couldn’t have too many monuments. He needed New Jersey’s consent, since he wanted the flush Port of New York and New Jersey Authority (It owned and managed NY/NJ’s bridges, tunnels, airports and ports) to finance the development. Ever the dealmaker, he dangled the carrot of having the Authority take over the bankrupt Hudson and Manhattan Railroad a/k/a The Tubes (which transported hundreds of thousands of New Jerseyans into New York City daily) before New Jersey’s governor. Governor Miner and then Governor Hughes jumped at the bait and the deal was done. The Port Authority took over the money losing Tubes and it was renamed the PATH (Port Authority Trans-Hudson Rail Line).
There were hundreds of encroaching small businesses that were forcibly evicted from the site. Not a problem for Rockefeller, newly expansive eminent domain doctrine was used to force them out with just compensation. Once the little guys were stripped of their property rights, the game was on…
See the whole article at Why rebuild The World Trade Center?