Mayor Bloomberg has recruited fellow billionaire Warren Buffett to take over a taxpayer fund set up to pay claims stemming from the toxic Ground Zero cleanup, The Post has learned.
A surprise plan under review would give $270 million in federal funds
managed by the World Trade Center Captive Insurance Co. — a nonprofit
entity controlled by Bloomberg appointees — to Buffett’s holding
company, Berkshire Hathaway, which would convert the cash into a $600
million commercial-insurance policy.
Buffett’s company would absorb the risk of new 9/11 litigation and
health claims, though it’s unclear how much profit he stands to make on
the deal. The city would receive no dividends, an official said.
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