N002143
Sunday, January 20, 2002 9:50 PM
Input to Federal Victims Compensation Program
This is to summarize my objections to the interim regulations proposed in the
Federal Victims Compensation Program. We lost our 24 year old son in
the 9/11 tragedy. My concerns fall into both the economic and non-economic
areas.
Economic
- the use of national earnings averages greatly distorts an equitable
projection over our son's anticipated 38 year work life. As an equity
trader, was off to a remarkable compensation start as an equity trader
and based on his superiors - could expect sizeable economic gains through his
performance. In fact the data used in the draft proposed appears to be in
line with 1979 statistics.
- the $230K cap on earnings also should be removed. would easily pass
this bar in the early stages of his career. His estate is being penalized
with such an arbitrary ceiling.
- such an arbitrary low model will drive far lower settlements that are
resonable.
non-economic
- proposing $250K as the settlement amount for pain and suffering is
inexcusable. Airline settlements give an indication of the amounts arrived
at through trials. The anguish we continue to feel through our loss
continues today. So far we have had two incidences where pieces of our son
were identified.....and were told this could go on again and again.......for
upwards of anywhere from 2-10 years!
- The suffering of our family will continue forever. A jet aircraft
overhead, reading the sensationalism in the news, seeing our other children
relive this horror through ongoing experiences that trigger recalling the
horror. Knowing that history will keep pointing to this monumental
day.........all equates to permanent suffering.
- $250K is simply a non starter - likely 1/10th of what it should be.
- Such a disparity only adds to our pain.....we are now becoming victims
ourselves. Our government let us down as citizens and it is only fair that
it shows compassion to innocent citizens who were left unprotected.
Finally, to agree to forgo suing parties who we feel are culpable - without
knowing what our resolution to be is unfair. If we are uncomfortable going
into the process - how will it get better? It is wrong to not know what to
expect up front.......or to go to trial if we are unhappy after understanding
the government's position.
Individual Comment