WTC corruption NJ Port Authority

World Trade Center project and corruption, nepotism in N.J. government

http://www.newjerseynewsroom.com/commentary/world-trade-center-project-and-corruption-nepotism-in-nj-government

BY MICHAEL HAYNE

NEWJERSEYNEWSROOM.COM

COMMENTARY

The colossal public-private project to rebuild One World Trade Center should symbolize America’s greatness and liberty, but instead it appears to be symbolizing two other American achievements: mismanagement and nepotism.

The Port Authority, which owns the skyscraper and all the transportation links between the Center, appears to be awash in debts compiled over the years by the governors of NY-NJ from 2002 to present-day. If there ever were bipartisanship, this incompetence is the singular issue. Okay, it’s safe to assume that the re-building of this project wasn’t exactly going to be a simple assignment, free of competing bureaucratic interests, greed, and corruption. But it’s really turning out to be a haphazard melange of all three and, much like when anytime the "stuff" hits the fan in government, the blame game takes precedent.

According to Nicole Genis of the New York Post, “One WTC will cost $3.9 billion. The PATH station has soared to $3.7 billion. And we can’t get back the federal money that pols spent on a sports museum and on the Bank of America and Goldman Sachs towers.

That’s how the Port Authority got caught on the hook for $7.7 billion (after money from other sources) for WTC rebuilding.”

Worse yet, it’s all on borrowed money and the Port Authority now owes $19 billion.