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Today's
Stories
May
20, 2005
Paul
de Rooij
"Private": a Film in Search
of a Cliché
Jeffery
R. Webber
Bolivia Erupts
May
19, 2005
Bill
Forman
An Interview with Alexander Cockburn
Stan
Goff
Hey, Democrats, Listen to Galloway and
Learn Something
Neve
Gordon
From Ghettos to Frontiers: What Will Happen After Israel Withdraws
from Gaza
Michael
Dickinson
The Trouble with Menwith: Tagging British Peace Activists
Karyn
Strickler
The Texas Nexus: How Racial and Political Gerrymandering United
Andrew
Freedman
Nazi Science at NIH
Paul
Craig Roberts
The Politics and Economics of Outsourcing
May
18, 2005
Jean
Bricmont
Vive La France?
Laura
Carlsen
Bush's Posada Carriles Quandry: an
Anti-Cuba Terrorist is Still a Terrorist
Mike
Whitney
The Secret Raids of Alberto Gonzales: 10,000 Swept Up
Joshua
Frank
Flushing the Koran: Why Newsweek Got It Right
George
Galloway
Thusly, I Humiliated Norm Coleman (and Christopher Hitchens)
Manuel
Garcia, Jr.
Writing Tickets for American War Crimes
Dwight
D. Eisenhower
How the GOP will Destroy Itself
Dave
Lindorff
The Plot to Make the PATRIOT Act
Even Worse
May
17, 2005
Mickey
Z.
GIs Behaving Badly
Petuuche
Gilbert
The People of Acoma Still Fight to
be Free
Paul
Craig Roberts
Lies That Kill: Why Isn't Bush in
the Dock?
Ramzy
Baroud
The New Palestinian Uprising
Robert
Jensen / Pat Youngblood
Pinning the Blame on Newsweek
Stan
Cox
Poisoning Patancheru: the Severe Side Effects of India's Drug
Industry
Dave
Zirin
American Anthem: Ozzie Guillen and Fining for Freedom
Diana
Barahona
Reporters Without Borders Unmasked
Website
of the Day
Revolutionary Flower Pot Society
May
16, 2005
Michael
Gillespie
The Family Released a Statement:
Death Notices for the Warrior Theocracy
Jason
Leopold
BP Stains the Arctic
Jesse
Muldoon
How Many Schools Left Behind?
Norman
Solomon
Media and the War: "The Bombs in Iraq Explode at Home"
Robert
Cray
Twenty
Patrick
Cockburn
Iraq is a Bloody No Man's Land
Website
of the Day
Bolton's Divorce Papers: She Took It All Away, Including Most
of the Furniture
May
14 / 15, 2005
Alexander
Cockburn
Join the 14 Per Cent Club!
Saul
Landau
Lessons from Vietnam: Wars Kill Empires as Well as People
Gary
Leupp
Whither Yale? Towards the Imperial University
JoAnn
Wypijewski
The Glory that is Lockhart, Texas
Ben
Tripp
The Wayward Airplane: a Cautionary Tale
Brian
J. Foley
Was Jesus Gay?
Tom
Barry
Bolton the Eavesdropper
Mitchell
Verter
Barbarous Oaxaca: Indigenous Rights Groups Meet the "Law
of the Club"
Mike
Ferner
War on COs: Army Files Additional Charges Against Kevin Benderman
Dan
Smith
Perceiving Darfur
Mark
Scaramella
Death with Pitfalls
Don
Fitz
Mommy, Is This a Finger in My Rice Puffs?: Splicing Human DNA
into the Food Chain
Diane
Farsetta
PR Industry Imitates Big Tobacco: the Senate's "Fake News"
Hearings
Michael
Dickinson
Soldier Crawling: Military Conscription in Turkey
Ron
Jacobs
The Jackson State Murders
Fred
Gardner
"Hydroponics? Ridiculous!": A Real Farmer Looks at
Medical Marijuana
Farrah
Hassen
Far From Heaven: a Review of Ridley Scott's "Kingdom of
Heaven"
Douglas
Valentine
50 Cent's Plea
Poets'
Basement
Louise, Ford, Engel, & Albert
Website
of the Weekend
Military Base Closings and the South
May
13, 2005
Tom
Stephens
A Chronology of US War Crimes and Torture, 1975-2005
Patrick
Cockburn
"They Destroyed Everything"
Mike
Whitney
Tom Friedman, Imperial Chronicler
Chris
Floyd
Miami Vice: the Sleazy World of Jeb Bush
Jenna
Orkin
Ground Zero's Toxic Dust
Dave
Lindorff
Googling for Fun
Joshua
Frank
Yale Fires an Acclaimed Anarchist Scholar:
an Interview with David Graeber
Website
of the Day
Botero: Pinta El Horror de Abu Ghraib
May
12, 2005
Paul
Craig Roberts
America is Losing: More Phony Jobs
Hype
Uri
Avnery
Death of a Myth
Greg
Moses
Neo-Con Logic at the Border
Carolyn
Baker
The Politics of Dominionism: the New Religious Right in America
Pat
Williams
Amateurish High Jinks on Roadless Areas
William
S. Lind
Reality Gap: the Myth of US Invincibilty
Jack
Random
The Dubious Wisdom of George W. Bush
Gary
Leupp
Douglas Feith Bares His Soul to Jeffrey Goldberg
May
11, 2005
Patrick
Cockburn
The Rise, Fall and Rise of Ahmed
Chalabi: King of Jordan to Pardon His $300 Million Bank Swindle
Kevin
Zeese
The Occupation Gets More Saddam-like
Every Day
Christopher
Brauchli
Coffee, Tea or Torture?: A One Way Ticket to Uzbekistan
Zalman
Amit
The Collapse of Academic Freedom in
Israel: Tantura, Teddy Katz and Haifa University
Robert
Shull
Carte Blanche for the Terror Cops:
Senate Gives DHS Power to Waive All Laws
Mike
Whitney
God, Gays, and George Bernard Shaw
Dr.
Teresa Whitehurst
Anti-Arabic Week at a Southern High School
Norman
Solomon
Political Bluster and the Filibuster
May
10, 2005
Richard
Drayton
The Imperial Mythology of WW II:
an Ethical Blank Check
Dave
Zirin
Steve Nash's Brilliant Year: Anti-War
Hoopster Wins NBA's MVP
Jackie
Corr
The Medicare Catch: Mrs. O'Hara's Windfall
Dave
Lindorff
Silence of the Scams: Economists
on China
Michael
Donnelly
From Roadless to Clueless: the Great
Stillborn Eco Victory
Reza
Fiyouzat
Nomadic Abstracts
Scott
Parkin
Taking Direct Action Against Halliburton
Stephen
Babcock
The Burden of Knowing Better
Alan
Farago
Florida, Water and Lobbyists
Michael
Neumann
Naomi's Courage
Website
of the Day
One Nation Under Plagiarism
May
9, 2005
Louis
Proyect
Shilling for Chevron: Jared Diamond,
Greenwasher
Robert
Fisk
"Mission Accomplished": the Occupation, Year Two
Kevin
Zeese
Concientious Objection on Trial: the Court Martial of Keith Benderman
Joshua
Frank
Kerry Bashes Gay Marriage
Sasha
Kramer
A Mother's Day Call for Justice in Haiti's Prisons
Andrew
Wimmer
Create and Resist
Jeffrey
Webber
Back to the Streets in Bolivia?
Jeffrey
St. Clair
Straight to Bechtel
May
7 / 8, 2005
Alexander
Cockburn
Who Beat Hitler?
Gary
Leupp
Biblical Prophecy and Christian Zionism
Saul
Landau
Pope Torquemada: Purges, Pedophiles and Cover-Ups
Joe
DeRaymond
Autumn of the Revolutionary: Another Look at Daniel Ortega
Daniela
Ponce
Seeing Chile in Nepal
Heather
Williams
Hollywood Does Enron
Gregory
Elich
Zimbabwe's Fight for Justice
Anis
Memon
To Cuba and Back
John
Chuckman
The Peculiar State: "Criticism of Israel is a Form of Anti-Semitism"
Mike
Whitney
Hard Right Rage Against the Truth
Ron
Jacobs
Re-Reading "Born on the Fourth of July" as the Iraq
War Grinds On
Colin
Kalmbacher
Whither Disorder? Ann Coulter and the Texas Police State, Cont.
Lance
Selfa
Uprising in Mexico City
Fred
Gardner
"Getting High is a Little Like Cuba"
Ben
Tripp
Letters on Wittgenstein
Mickey
Z.
The Mother of All Days
Richard
Joseph
Those Patriotic Magnets
Dr.
Susan Block
Come As You Are: Masturbation 101
Poets'
Basement
Smith-Ferri, Louise, Nettnin, Engel and Albert
May
6, 2005
Patrick
Cockburn
Baghdad Diary: a Week of Bombs and
Blood
Erin
Yoshioka
Another "3 Strikes" Travesty:
Why is Santo Reyes Facing Life in Prison?
Sam
Husseini
Talking with Syrians
Dave
Lindorff
Ernie Pyle Where Are You? When Reporters were Reporters
Kevin
Zeese
Circus Trials of Abu Ghraib: When Even the Fall Girl Can't Plead
Guilty
Joshua
Frank
An Overextended US Military? It Won't Stop Another War
Dan
Bacher
Tribes and Salmon Win One: Bush Backs Off Trinity River Water
Raid
P.
Sainath
India's Bloody Water Wars
May
5, 2005
Carles
Mutaner
Is Chavez's Venezuela "Socialist"
or "Populist?"
Carl
G. Estabrook
Is There Any Hope for the Pope?
Farrah
Hassen
The US's Syrian Obsession
Kevin
Zeese
"Sent Into Combat Unequipped and Unprepared": an Interview
with Patrick Resta
Michael
Leonardi
May Day with an American Soldier in Rome
Bennett
Ramberg
The Future of Nuclear Terror: Coming to a Reactor Near You
Ray
McGovern
The Smoking Gun on White House Deceit
Norman
Solomon
Nuclear Fundamentalism, the New York Times and Iran
Nicole
Colson
The Back Alley Attack on Abortion Rights
Brian
Concannon, Jr.
Clearing the Fences in Haiti
May
4, 2005
Colin
Kalmbacher
Ann Coulter and the Police State:
Heckle a Racist, Get Arrested
John
Walsh
Al Franken is a Big Fat Phony: Lying
on Air America to Support the War
Greg
Moses
Vigilante Wedge: Schwarzenegger Reprises
"Birth of a Nation"
Ali
Khan
Nuclear Non-Proliferation Treaty Poised to Fall Apart
Chris
Floyd
Ring Them Bells
Linda
S. Heard
D-Day for Tony Blair: Bogeymen and Scare Tactics
Dave
Zirin
The NFL, Congress and the Male Cheerleader Principle
William
S. Lind
Fool's Paradise
Gary
Leupp
Bolton's Proudest Moment: Breaking
the UN's Anti-Zionist Resolution
Website
of the Day
Kent State, May 4, 1970
May
3, 2005
Dave
Lindorff
Bush has Grasped the Third Rail,
Now Turn on the Juice
Brian
Cloughley
Halliburton's War Loot
Ira
Kurzban
Death Squad Diplomacy: How Bolton Armed Haiti's Thugs and Killers
Seth
Sandronsky
Towards Debtors' Prisons?
Gilad
Atzmon
The Labour Party Isn't an Option Any More
Michael
Donnelly
Branding Eco Collapse
Alex
Sanchez
Chile's Man at the OAS: a Blow to Bush?
Peter
Linebaugh
Magna Carta and May Day
May
2, 2005
Ron
Jacobs
Toward an Anti-Imperialist Movement
Stan
Goff
The Case of Hasan Akbar
Karyn
Strickler
Achieving Gender Balance in US Politics
Joshua
Frank
Leaked UK Memo Indict's Blair's Iraq Folly
Kevin
Zeese
Getting Out of Iraq will Prove Tougher Than Getting Out of Vietnam
Vicente
Navarro
Pope Benedict: a Rightwing Politician
April
30 / May 1, 2005
Alexander
Cockburn
Marla Ruzicka, Rachel Corrie and
"Credibility"
Gabriel
Kolko
Lessons from a Total Defeat: the End
of the Vietnam War, 30 Years Later
Jennifer
Loewenstein
The Disengaged: Gaza and the Fragmentation of Palestinian Nationhood
Lee
Sustar
City for Sale: Richard Daley's Chicago
Saul
Landau
The Bush-DeLay Axis of Naked Power
T.W.
Croft
The Undiscovered Country: the High Tide of the Neo-Con Confederacy
Nikolas
Kozloff
Fox News v. Hugo Chavez
William
Blum
Never-Ending Double Standards
Dave
Lindorff
Judicial Jury Tampering in Philly
Joshua
Frank
The Bi-Partisan Assault on Teenage Girls
Doug
Giebel
Saving Jane Fonda
Steven
Erlanger
A Response to Kathy Christison, from the NYT Jerusalem Bureau
Chief
Fred
Gardner
Washington State Doctor Harassed
Mike
Whitney
Another Mad Bush Press Conference
Kurt
Nimmo
Putin Pussyfoots in Palestine
Joe
DeRaymond
A Short History of the 15th Congressional District of Pennsylvania
Michael
Dickinson
Flags
Mickey
Z.
May Day at Yankee Stadium
Justin
Taylor
The Crawling Chaos: HP Lovecraft's Polymorphous Legacy
Poets
Basement
Krieger, Engel, Albert, St. Clair
Website
of the Weekend
Save Barbados's Cowpastor
Hot Stories
Alexander Cockburn
Behold,
the Head of a Neo-Con!
Subcomandante
Marcos
The
Death Train of the WTO
Norman Finkelstein
Hitchens
as Model Apostate
Steve Niva
Israel's
Assassination Policy: the Trigger for Suicide Bombings?
Dardagan,
Slobodo and Williams
CounterPunch Exclusive:
20,000 Wounded Iraqi Civilians
Steve
J.B.
Prison Bitch
Sheldon
Rampton and John Stauber
True Lies: the Use of Propaganda
in the Iraq War
Wendell
Berry
Small Destructions Add Up
CounterPunch
Wire
WMD: Who Said What When
Cindy
Corrie
A Mother's Day Talk: the Daughter
I Can't Hear From
Gore Vidal
The
Erosion of the American Dream
Francis Boyle
Impeach
Bush: A Draft Resolution
Click
Here for More Stories.
|
May 19, 2005
Here They Come Again
How
Insurance Companies Exploited 9/11
By
CHRISTOPHER BRAUCHLI
Whereas one of the consequences of 9/11
was the curtailing of the freedom of the people in the United
States by the imposition of new laws and sanctions, that same
event freed Congress to do all sorts of things that no one in
his or her right mind would have ever dreamed of permitting it
to do prior to that infamous date. One of the manifestations
of this new found Congressional freedom was the Terrorism Risk
Insurance Act of 2002.
9/11 cost insurance companies
in excess of $40 billion, which was more than any single loss
they had suffered prior to that day. They disliked sustaining
such enormous losses and out of self-interest decided the government
should do something to make sure they never again sustained such
losses.
At first blush it seems odd
that insurance companies would ask the government to butt into
their internal affairs. Insurance companies are big business
and big business takes pride in the free market system that works
best when government intervenes least in the lives of people
and corporations. The insurance companies were willing to make
an exception in this case, however, because what they were asking
affected their profit margins (so they said) and big business
is willing to look the other way when it is asking the government
to do things that makes them wealthy. (So are individuals who
hold themselves out as being conservatives but that is not relevant
to today's topic.)
The insurance companies said
that without help from Congress (by which they meant the taxpayers,)
insurance companies would decline to offer terrorism coverage
to companies. They were not the least bit embarrassed to say
this to Congress. 9/11 had nothing to do with something the big
insurance companies did wrong and therefore, they concluded,
it was not inconsistent with their general aversion to having
the government get involved in their affairs, for them to go
to Congress and ask for help And help they got. It was called
the Terrorism Risk Insurance Act of 2002.
The Act provides that in the
event of another terrorist attack insurance companies will be
required to pay the first $10 billion in losses. In addition,
in 2003 insurance companies will be responsible for paying a
deductible equal to 7 percent of the premiums received the previous
year. The deductible rises to 10 percent in 2004 and 15 percent
in 2005. Above that the taxpayers are required to participate
in future losses by paying 90 percent of all losses in excess
of more than $10 billion up to a maximum of $90 billion. In 2004
the taxpayers' obligation drops to $87.5 billion and in 2005
it drops to $85 billion. There are other provisions but space
does not permit their description with one exception. That exception
is this. In 2005 the Act expires. That is something the insurance
industry fears even more than another terrorist attack.
To allay its fears it contributed
$36 million to people running for office in the last election
and now hopes that the good people to whom it gave money will
return the favor by leaving the 2002 Terrorism Risk Insurance
Act in place and improving on it. It wants the act to apply to
life insurance and to cars and houses as well as to companies.
The industry says it cannot afford another 9/11 notwithstanding
the following fact. According to the Consumer Federation of American,
insurers reported a 66.4 percent increase in profits in the first
six months of 2002 thus suggesting the consequences of 9/11 were
not as dire for them as they were for thousands of others.
The companies are not so crass
as to suggest that they need the protection because a 66.4 percent
increase in profits (after paying out more than $40 billion in
claims) was inadequate. Instead they explain that unless the
government lets taxpayers become coinsurers against terrorism
losses, the companies will be unwilling to write insurance against
terrorist attacks and the taxpayers will be the losers. That
is a dismal prospect for the taxpayer and the government and
the Congress.
Christopher Brauchli is a lawyer in Boulder, Colorado. He
can be reached at: Brauchli.56@post.harvard.edu
or through his website: http://hraos.com/
|
