There was $15 billion in "insider trading" before 9/11 (dumping AA, UAL)

[scottxyz]

ABC World News reported on Sept. 20, "Jonathan Winer, an ABC News consultant said, 'it's absolutely unprecedented to see cases of insider trading covering the entire world from Japan, to the U.S., to North America, to Europe."

How much money was involved? Andreas von Bülow, a former member of the German Parliament responsible for oversight of Germany's intelligence services estimated the worldwide amount at $15 billion, according to Tagesspiegel on Jan. 13. Other experts have estimated the amount at $12 billion.


From Mike Ruppert at FromTheWilderness.com - worth reading in full:

http://www.fromthewilderness.com/free/ww3/040804_condi_rice.html

[linazelle]

1. That story is damning...the profiteers should be revealed

[The Backlash Cometh]

2. Give us their names.

We deserve that much

[Old and In the Way]

8. Money was never claimed...but there has to be records on who

placed the put options.

[fishnfla]

3. Honest and admitedly naive questions

I got to thinking about this after the bombings in Spain influenced the elections there, and Wall Street tanked for a few days.

If the terrorists knew they were going to bomb the WTC and roil the markets, wouldnt they in turn want to profit off of that? I mean like one hand, the bombings, washing the other, their financing? How is al Queda financed after all?

I know this doesnt fit in with your points here, but it could be part of the trading numbers, in addition to the financiers. Maybe the traders saw certain overseas clients making moves, figured something was up and hopped on the bandwagon.

One thing I do know: we have seen how organized and methodical the terrorists are, if they really thought thru the whole 9/11 scenario, maybe they figured they could cash in on it too, or at least their bankrollers did.

[scottxyz]

4. Remember that the CIA monitors financial markets in real-time

via the PROMIS system.

So not only did the short-sellers know about 9/11 - the CIA knew in advance too.

= = =

http://www.fromthewilderness.com/free/ww3/040804_condi_rice.html

- A jump in UAL put options 90 times (not 90 percent) above normal between Sept. 6 and Sept. 10, and 285 times higher than average on the Thursday before the attack. {CBS News, Sept. 26}

- A jump in American Airlines put options 60 times (not 60 percent) above normal on the day before the attacks. {CBS News, Sept. 26}

- No similar trading occurred on any other airlines. {Bloomberg Business Report, the Institute for Counterterrorism (ICT), Herzliyya, Israel citing data from the CBOE}

- Morgan Stanley saw, between Sept. 7 and Sept.10, an increase of 27 times (not 27 percent) in the purchase of put options on its shares. {ICT Report, "Mechanics of Possible Bin-Laden Insider Trading Scam," Sept. 21, citing data from the CBOE}.

- Merrill-Lynch saw a jump of more than 12 times the normal level of put options in the four trading days before the attacks. {Ibid}

"I saw put-call numbers higher than I've ever seen in 10 years of following the markets, particularly the options markets," said John Kinnucan, principal of Broadband Research, as quoted in the San Francisco Chronicle...

[fishnfla]

6. forgive me, I dont understand a word of that

can they follow the money or not?

[Old and In the Way]

7. Yes. Of course it is documented. A trade must have a trader and an

account to debit/credit. What's interesting, IIRC, the main investment bank involved was run by Buzzy Krougergard (sp?) who was a CIA director of Counter-Intelligence (I think).

About 6 months ago, the FBI closed the investigation with no findings publically disclosed.

I'm sure a lot of the action came out of Saudi Arabia.

[fishnfla]

11. I bet you're right about the house of saud

Takes money to make money, and they had the inside track.I will study more on this. thank y'all for the heads up.

[scottxyz]

14. I heard a lot of the trades were processed via old Bush banks

Brown Brothers Harriman or Alex Brown or something like that?

Old banks with connections going back to the Bush I and Granddaddy Bush?

[mot78]

9. Why wasn't this investigated?

[bicentennial_baby]

5. John Dean mentions it in his book

I was just reading that section this evening.

[havocmom]

10. but, but, we got Martha! A victory for the 'little guy'

NOT.

Deep Throat said it decades ago and it is still the route to take:
Follow the money

[scottxyz]

13. And don't forget Harken

Bush's little insider-trading deal.

About 4 times bigger than Martha if I recall correctly.

[SoCalDem]

12. I posted this after after the WTC attacks..

http://www.democraticunderground.com/cgi-bin/duforum/duboard.cgi?az=list_threads&om=210&forum=DCForumID27

---

Sadly, the link is long dead...maybe the waybackmachine??

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SEC Investigating 38 companies suspicious trading...just before 9/11/01
http://wire.ap.org/APpackages/photoweek/index.html
latest news left side of page...

OCTOBER 02, 19:59 EDT SEC Probes Suspicious Trading
By MARCY GORDON
AP Business Writer
Traders work floor of NYSE


WASHINGTON (AP) —

The government is investigating trading in shares of 38 companies, including major airlines, cruise lines, General Motors and Raytheon, to determine if people used advance knowledge of the terror attacks to profit. The Securities and Exchange Commission asked brokerage and investment firms in the United States and Canada to review their records for trading in the stocks to find any unusual patterns from Aug. 27 through Sept. 11, the day hijackers slammed planes into the World Trade Center's towers and the Pentagon.

There was unusually heavy trading in airline and related stocks several days before the attacks, using a market tactic that essentially bets that a stock will decline in value.
The SEC list also includes several big companies that were tenants in the collapsed Twin Towers in the heart of New York's financial district: investment firms Morgan Stanley Dean Witter & Co., the complex's biggest occupant, and Lehman Brothers; Bank of America; and the financial firm Marsh & McLennan.

The SEC has not disclosed details of its investigation, part of a worldwide inquiry into possible advance trading by individuals linked to the terrorists. But the agency's list of 38 companies was posted Monday on the Web site of the Investment Dealers Association of Canada, which represents that country's securities firms.
The association sent a notice of the list to its approximately 190 member firms. ``These are the ... securities the United States Securities and Exchange Commission is investigating in the United States. We ask that you review same with a view of determining any unusual trading patterns,'' the Web site posting said.

....snip.....

``One shouldn't be wearing blinders when looking at that sort of thing,'' he said by telephone from Toronto. SEC spokesman Michael Robinson would not comment Tuesday. SEC Chairman Harvey Pitt told Congress last week that the agency's top priority is to pursue its investigation of possible trading by people associated with the terrorists. If such trading is found to have occurred, ``We will do everything within our power to track those people down and bring them to justice,'' Pitt said in testimony to the House Financial Services Committee.

The 38 companies also include the parents of major airlines American, Continental, Delta, Northwest, Southwest, United and USAirways as well as cruise lines Carnival and Royal Caribbean, aircraft maker Boeing and defense contractor Lockheed Martin. In the days before the terrorist assaults, unusually high numbers of put options were purchased for the stocks of AMR Corp. and UAL Corp., the parents of American and United — each of which had two planes hijacked.

A put option is a contract that gives a holder the right to sell an asset at a specified price before a certain date. Several insurance companies are on the list — American International Group, AXA, Chubb, Cigna, CNA Financial, John Hancock and MetLife.
Germany's stock market regulator has said it was looking into the possibility of suspicious short-selling of insurance company shares — including AXA, a big French company whose shares also are traded in the United States — just before the terrorist attacks.

As with put options, investors who engage in short-selling are betting that the price of the stock will fall. The list of 38 companies also includes American Express; Bank of New York; Bank One; Bear, Stearns; Citigroup; Hercules; L-3 Communications Holdings; LTV Corp.; Lone Star Technologies; Progressive Corp.; Royal & Sun Alliance; XL Capital; and W.R. Grace.
———
On the Net:
Securities and Exchange Commission: http://www.sec.gov
Investment Dealers Association of Canada: http://www.ida.ca

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"With free speech, you can gossip, criticize, attack and nobody is going to send you to jail"..g.w.bush 9/3/01

"...Ahm Gonna Wash That Thought Right Outa Yer Brain..".GOP Theme Song

[ewagner]

15. Wasn't it just last summer

That a report was issued on the insider trading and said that a) The money was never claimed and b) It was impossible to trace?

I remember quite a few DUers being quite upset about the report but the story has absolutely dropped off of the radar screen.

This is the first re-visiting of the story I've seen for a long time.

Also..I never knew about the NPR correspondent's story. If a Congressman told the NPR reporter that he had been briefed, then Bushco is negligent as hell.....maybe even LIHOP!