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Risk-Based Funding June 6, 2006

Posted by newyorkscot in Risk Mgt.

So, apparently New York City does not need the $207mm it had last year to defend itself from terrorism. Last week the Dept of Homeland Security cut NYC's budget by 40% to $124.5mm citing that "the region had no "national monuments or icons," four banking or financial firms with assets of over $8 billion, 28 chemical or hazardous material sites, as well as nearly 7,000 other possible important, high-risk targets, like hospitals or major office buildings…". The calculation was done using "risk-based funding". I would love to see that piece of analysis.

Apparently, the Empire State Building, Statue Of Liberty, Ellis Island, Chrysler Building, Metropolitan Museum, Times Square area, Grand Central Station, Brooklyn Bridge, to name a few, are neither monuments nor icons.

So, what is the big deal about NYC's skyline, again ? Utterly ridiculous. Apparently, the Brooklyn Bridge is categorized as merely a "bridge". And the Empire State Building is just an office building. Huh (??!!)



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