From NY Post:

PETER KING'S QUESTIONS

June 2, 2006 -- Long Island's Rep. Peter King, chairman of the House Committee on Homeland Security, has some questions for Department of Homeland Security Secretary Michael Chertoff.

King remains stunned at the announcement that New York City will get 40 percent less in terror-prevention funding than it received last year - from $207 million to $125 million - even though, in Chertoff's own words, DHS "consistently ranks New York as Number One in terms of risk assessment."

King wants to know how this decision was made. "From what I understand," he told The Post, "[Wednesday], Chertoff was running around DHS trying to get answers to justify the numbers."

In a speech yesterday, Chertoff likened risk-assessment grants to a "capital investment program . . . You don't invest the same amount of capital every year."

Responds King: "This is, like, the fifth story they've come up with to justify this. [Wednesday], they were saying New York had no icons or monuments in this complicated asset-risk formula. Then they said that New York's application was poor. Then, it was that the NYPD ranked in the bottom 15 percent of cities in its security application.

"The stories don't add up. [This 'capital investment' stuff] is a hoax they came up with after the fact."

Indeed. As reported by ABC News, DHS' asset-risk chart lists New York as having a grand total of four "banking and finance" assets.

Four.

As ABC notes, drily, "New York City is home to Chase, JP Morgan, Citi Group, The New York Stock Exchange, The Commodities, American Express, George Soros Funds, Michael Gabelli's funds, Lazard Frere and Salomon Brothers, to name just a few of the more prominent banking interests located there."

King plans on holding hearings next week when Congress returns to find out a few things:

Did DHS' shadowy peer-review panel have the final say?

Did anyone have to sign off on the final grant numbers?

Did anyone recognize the symbolism inherent in the two cities that got attacked on 9/11 having their terror-prevention funds cut?

King added, "Symbolism is important in combating terrorism."

Now, to be perfectly fair, Washington's patience when it comes to sending 9/11-related money isn't - and shouldn't be - open-ended.

The feds shipped $21 billion to New York after the terrorist attack - and there remains but a huge hole Downtown to show for it. That this is even an issue five years later should have George Pataki, the Port Authority and even Mike Bloomberg blushing in shame.

But that doesn't begin to speak directly to the issues.

Which, among a lot of other things, includes the fact that there are 720-plus miles of subway track in New York City. After Madrid and London - to say nothing of 9/11 - the last thing Chertoff should be doing is chiseling New York on anti-terrorism dollars.

And making weak excuses after being caught at it.

Go get 'em, Pete.