9/11 Reckoning: "What Is Life Worth?"

Office Buildings Bridge the Spectrum... Do we really know the people working in our buildings? That's the question that struck me as I finished Kenneth Feinberg's new book, What Is Life Worth?, about the September 11th Victim Compensation Fund.

Feinberg was the "special master" responsible for implementing the 9/11 Fund authorized by Congress "to provide fair repayment for the sudden loss of a loved one and some degree of justice for that loss" for victims at the World Trade Center, the Pentagon and Shanksville, Pennsylvania.

This thought-provoking and heart-rending account of his experience reminds us that the safe operation of office buildings directly impacts the lives of a broad swath of our population -- from multi-millionaire bond traders to military personnel to undocumented dishwashers.

So how could we as a nation, represented by Feinberg, be "fair" and "just" to the thousands of 9/11 families, each with its own unique set of circumstances?

It was a wrenching process. But after thirty-three months, Feinberg and his staff did craft a successful strategy, as evidenced by a 97% participation rate of eligible families.

Awards were based on economic loss and non-economic loss (pain and suffering) suffered, after deduction of collateral sources of income (e.g., life insurance). The average award for a death claim was about $2 million (tax free) for 2,880 families. The median award was about $1.7 million. The total was about $6 billion.

Feinberg makes clear that "the fund was NOT valuing the moral worth of those murdered on 9/11. ... Instead, [he] emphasized the requirement of need, which was directly linked to financial circumstances."

It's hard to play Solomon. But you'll feel proud that our government did the right thing.