N000026
Thursday, December 20, 2001 4:20 PM
Victim Compensation Fund - Published rules & compensation matrices.
To whom it may concern:
I had just reviewed the published matrices. I don't know who or with what in mind the
matrices were created, but it seems rather obvious that the location of the disaster did
not even come into their mind when calculating potential economic loss. The WTC hosted
the people with the highest potential for increased income. Starting salaries including
bonuses are higher than the median income for the entire country and yet unfortunately
the numbers shown seem to treat those that had to graduate from Ivy League colleges such
as Columbia with degrees in such fields such as economics or other sciences, recruited by
such companies as Cantor Fitzgerald as though they had they had the earning potential of
a stock person in a local Kmart.
Young single people just starting out in life are penalized to such a degree that to a
cynical person it would seem that the Special Master found a way to guarantee that we
would have to hire lawyers to sue all the parties to the disaster.
A 25 year old that at a company such as Cantor starting out with $45K per year is assumed
that he would only have accumulated only 600K over the next 38+ years. The $600K is
computed based on the published number of $846484 less the $250,000 for none economic
loss. These numbers are an insult to ones intelligence and to the people who perished at
those sites and will guarantee that very few will avail themselves of this route. At the
very least the numbers published are 1/3 what those in the financial industry would have
guessed at the low range of economic loss.
Individual Comment
Oceanside, NY