Hill Touts Downtown High School, Biotech Facility

NEW YORK CITY-Senator Hillary Rodham Clinton focused on the currently quagmired terrorism bill, creating a World Trade Center research institute and using Downtown real estate for a new high school. Clinton’s remarks were made at a REBNY breakfast meeting yesterday.

Clinton faulted the insurance industry for the stalled terrorism legislation. “The insurance industry has basically told the Congress that there is not a problem,” Clinton stated. “And while it’s not a problem in the sense that yes, there is coverage, it’s just that it’s unaffordable and exorbitant.”

In addition, Clinton noted, “We also have problems within Congress about what to put on the bill that I hope are being worked out. I am working with my colleagues and I have come up with a number of ideas including a federal insurance charter or a federal backstop that would guarantee an 80% or 100% payout if necessary [to building owners].”