But Krongard exhibited the requisite secretiveness when asked
to explain his interest in intelligence and how he came to land
a job in Tenet's inner circle. If you go back to the CIA's origins
during World War II in the Office of Strategic Services, he
explained, "the whole OSS was really nothing but Wall Street
bankers and lawyers."
http://washingtonpost.com/wp-dyn/articles/A16570-2001Ma ...
Supressed Details of Criminal Insider Trading Lead Directly into the CIA’s Highest Ranks
CIA Executive Director “Buzzy” Krongard managed firm that handled “PUT” options on United Airline Stock
by Michael C. Ruppert
FTW - October 9, 2001 – Although uniformly ignored by the mainstream U.S. media, there is abundant and clear evidence that a number of transactions in financial
markets indicated specific (criminal) foreknowledge of the September 11 attacks on the World Trade Center and the Pentagon. In the case of at least one of these
trades -- which has left a $2.5 million prize unclaimed -- the firm used to place the “put options” on United Airlines stock was, until 1998, managed by the man who is
now in the number three Executive Director position at the Central Intelligence Agency.
Until 1997 A.B. “Buzzy” Krongard had been Chairman of the investment bank A.B. Brown. A.B. Brown was acquired by Banker’s Trust in 1997. Krongard then
became, as part of the merger, Vice Chairman of Banker’s Trust-AB Brown, one of 20 major U.S. banks named by Senator Carl Levin this year as being connected
to money laundering. Krongard’s last position at Banker’s Trust (BT) was to oversee “private client relations.” In this capacity he had direct hands-on relations with
some of the wealthiest people in the world in a kind of specialized banking operation that has been identified by the U.S. Senate and other investigators as being
closely connected to the laundering of drug money.
Krongard joined the CIA in 1998 as counsel to CIA Director George Tenet. He was promoted to CIA Executive Director by President
Bush in March of this year. BT was acquired by Deutsche Bank in 1999. The combined firm is the single largest bank in Europe. And,
as we shall see, Deutsche Bank played several key roles in events connected to the September 11 attacks.
more
http://www.hereinreality.com/insidertrading.html Follow the Money: Bush, 9/11, and Deep Threat
by Fran Shor
Published on Wednesday, May 22, 2002 by CommonDreams.org
The CIA and Other Deep Pockets
In the immediate aftermath of 9/11 a number of news stories appeared concerning investments in “put” options in United and American Airlines. Put options are shares that are bets on falling market prices for specific stocks. In the week before September 11 put options in United and American Airlines went through a furious and unprecedented spasm of investment. In addition put options for Morgan Stanley and Merrill Lynch, two of the biggest occupants of the World Trade Center, also saw abnormal activity. Most of the investments in these put options originated in Germany through the Deutsche Bank. Deutshce Bank had earlier acquired Banker’s Trust, a investment banking firm whose Vice Chairman in charge of “private client relations” in the late 1990’s was A. B. “Buzzy” Krongard. In March of 2001, Krongard was appointed Executive Director of the CIA.
Certainly, the CIA has a history of laundering money and dealings with shady investment characters. What becomes particularly relevant in the lead-up to 9/11 is the August CIA briefing of Bush concerning the potential threat of attacks by bin Laden using hijacked planes on certain sites, such as the Pentagon and World Trade Center, and the fact that the CIA had bugging equipment on bin Laden messages and international banking operations. Although no one has apparently claimed the money from the put options, questions remain about Krongard and the CIA’s involvement.
http://www.commondreams.org/views02/0522-07.htm THE CIA CONFIRMS FTW's MAP --
We Were Right!
NEW CIA UNIVERSITY
REVEALS AGENCY PRIORITIES
July 3, 2002,-- 17:00 PDT (FTW) -- The CIA is now operating a university somewhere in northern Virginia. According to an entry in a June 24 newsletter published by an association of former intelligence officers, some of the courses taught at the university are "economic trends, international banking, the world oil market, and how the International Monetary Fund, World Bank, World Trade Organization, etc. and other non-governmental organizations work."
For four years FTW has been teaching that the CIA's primary role, it's raison d'etre, was to serve the interests of Wall Street and the major banks. In our recent three-country lecture tour, our documentation of the close links between CIA and Wall Street has taken many by surprise. Thirty years ago Professor Peter Dale Scott of Berkeley disclosed that six out of the first seven deputy directors of intelligence (CIA's number two position) had gone directly from Wall Street into service at the Agency. Since Sept. 11, FTW's disclosure that the CIA's current executive director, A.B. "Buzzy" Krongard, is a former investment banker has caused deeper rumbles. The firm he once headed, AlexBrown/Deutschebank, has been connected to insider trading on United Air Lines stock just before the Sept. 11 attacks. The NYSE's current executive vice president for enforcement, David Doherty, is a retired CIA general counsel.
more
http://www.fromthewilderness.com/free/ww3/070302_CIA_U.htmlprocedure used at Deutschebank/AB Brown assured anonymity
"European reporters found that most of the suspicious pre-attack trades passed through Deutschebank and especially via CIA Executive Director A.B. Krongard’s former Alex Brown investment division by means of a procedure called portage, which assures the anonymity of individuals making the transactions. But Congress has not publicly revealed whether they will call Krongard and other Alex Brown traders to testify in open hearings, or whether they will subpoena the pre-attack documents in question."
more
http://www.scoop.co.nz/mason/stories/HL0207/S00119.htm A Deutsche Bank executive was convicted of money laundering shortly before 9/11, and the bank laundered heroin money linked to the CIA.
And Shattuck actually resigned on September 12(!) from his three-year $30 million contract as head of AB Brown.
SMOKING GUN BURIED DURING CALIFORNIA RECALL VOTE!
On October 7 while the eyes of America were fixed on the California Recall vote the Securities and Exchange Commission quietly announced it was closing its investigation of suspicious stock trades connected to 911. The SEC's reason for closing the investigation can best be summed up as "What insider trading?".
...
* Morgan Stanley Dean Witter & Co., which occupied 22 floors of the World Trade Center, saw 2,157 of its October $45.00 put options bought in the three trading days before Black Tuesday; this compares to an average of 27 contracts per day before September 6.
* Merrill Lynch & Co., with headquarters near the Twin Towers, saw 12,215 October $45.00 put options bought in the four trading days before the attacks; the previous average volume in these options had been 252 contracts per day.
The CIA routinely monitors stock trades looking for exactly these kinds of suspicious transactions. The fact that these trades failed to sound any alarms is in itself suspicious as the bank which was the trading hub has a man inside the Agency. That man is CIA Executive Director “Buzzy” Krongard and the bank is Deutsche bank.
http://ez-websites.com/grudge /
September 6-10, 2001: Suspicious trading occurs on American and United, the two airlines used in the 9/11 attacks. "Between 6 and 7 September, The Chicago Board Options Exchange saw purchases of 4,744 put option contracts (a speculation that the stock will go down) in UAL versus 396 call options – where a speculator bets on a price rising. Holders of the put options would have netted a profit of $5 million once the carrier's share price dived after September 11. On 10 September, more trading in Chicago saw the purchase of 4,516 put options in American Airlines, the other airline involved in the hijackings. This compares with a mere 748 call options in American purchased that day. Investigators cannot help but notice that no other airlines saw such trading in their put options." One analyst says: "I saw put-call numbers higher than I've ever seen in 10 years of following the markets, particularly the options markets." (Associated Press, 9/18/01, San Francisco Chronicle, 9/19/01) "To the embarrassment of investigators, it has also emerged that the firm used to buy many of the "put" options ... on United Airlines stock was headed until 1998 by "Buzzy" Krongard, now executive director of the CIA." Krongard was chairman of Alex Brown Inc., which was bought by Deutsche Bank. "His last post before resigning to take his senior role in the CIA was to head Bankers Trust – Alex Brown's private client business, dealing with the accounts and investments of wealthy customers around the world." (Independent, 10/14/01)
http://www.cooperativeresearch.org/timeline/index.html Let Bin Laden stay free, says CIA man AB “Buzzy” Krongard
January 09, 2005
Tony Allen-Mills
...
If the world’s most wanted terrorist is captured or killed, a power struggle among his Al-Qaeda subordinates may trigger a wave of terror attacks, said AB “Buzzy” Krongard, who stepped down six weeks ago as the CIA’s third most senior executive.
“You can make the argument that we’re better off with him (at large),” Krongard said. “Because if something happens to Bin Laden, you might find a lot of people vying for his position and demonstrating how macho they are by unleashing a stream of terror.”
Krongard, a former investment banker who joined the CIA in 1998, said Bin Laden’s role among Islamic militants was changing. “He’s turning into more of a charismatic leader than a terrorist mastermind,” he said. “Some of his lieutenants are the ones to worry about.” Krongard, 68, said he viewed Bin Laden “not as a chief executive but more like a venture capitalist”.
...
Several US officials have privately admitted that it may be better to keep Bin Laden pinned down on the border of Afghanistan and Pakistan rather than make him a martyr or put him on trial. But Krongard is the most senior figure to acknowledge publicly that his capture might prove counter-productive.
Krongard also acknowledged that the CIA was still having trouble planting spies in Islamic militant ranks. “There are hundreds and hundreds of (Al-Qaeda) cells — it’s like a living, moving bit of protoplasm,” he said.
more
http://www.timesonline.co.uk/article/0,,2089-1431539,00... On December 31st, the Wall Street Journal's Glenn Simpson reported that Riggs Bank, currently under federal investigation for failure to comply with anti-money laundering laws, has longstanding ties to the CIA. Riggs is being investigated for failing to report suspicious transactions involving the accounts of Saudi Ambassador Prince Bandar, former Chilean dictator Augusto Pinochet, and Teodoro Obiang, the current President of Equatorial Guinea. The relationship was significant enough that top Riggs executives received U.S. government security clearances; Simpson also noted that both Pinochet and Prince Bandar have worked with the CIA in the past. However, the nature of the bank's relationship with the CIA is largely unknown.
It is likely that J. Carter Beese, a director at the bank and the focus of the Public Accountability Initiative's report on Riggs (read it here), is a key player in this relationship. Beese rose up in the business world under the tutelage of A.B. Krongard, the third ranking official at the CIA until September of 2004. Despite his position of compliance oversight, Beese's role at the bank has never been reported.
Press coverage of the Riggs story, and the CIA connection in particular, has been extremely spotty. Few internet journalists have taken note, though Jack Shafer wonders at the lack of coverage in a recent piece for Slate.com. Shafer also reports that no newspapers have built on Simpson's story, which was "inexplicably" buried on page A4 of the WSJ.
This is not for lack of newsworthiness. Now that the U.S. government is implicated in Riggs' shady dealings, the story is about much more than a badly corrupt bank. It is likely that Riggs' failure to report suspicious transactions was authorized by the CIA, which used the bank as a way of supporting U.S. allies—allies of the variety that have a lot of money to hide. In other words, Riggs officials were acting in the interests of national security, at the behest of the U.S. government.
SOURCE:
http://www.publicaccountability.org /
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