Difference between revisions of "9-11/Insider Trading"

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[[image:9-11_insider_trading.jpg|left|471px]]
 
[[image:9-11_insider_trading.jpg|left|471px]]
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==Almost Irrefutable Proof?==
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The German Central bank studied the possibility of insider trading. According to
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German central bank president [[Ernst Welteke]], the German researchers found “almost irrefutable proof
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of insider trading”.<ref>http://www.historycommons.org/context.jsp?item=aearly0901german#aearly0901german</ref>
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Welteke was blunt: “What we found makes us sure that people connected to the terrorists must have been
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trying to profit from this tragedy.”<ref>William Drozdiak, “‘Insider trading’ by terrorists is
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suspected in Europe”, Miami Herald, September 24, 2001,
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http://web.archive.org/web/20011109160700/www.miami.com/herald/special/news/worldtrade/digdo
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cs/099922.htm</ref>
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==Destruction of Evidence==
 
There ''was'' a lot of evidence of trading in the run up to [[9/11]] consistent with foreknowledge. David Callahan – executive editor of SmartCEO – submitted a [[Freedom of Information Act]] request to the [[SEC]] regarding the pre-9/11 put options. He was told: "We have been advised that the potentially responsive records have been destroyed."<ref name="wb"/>
 
There ''was'' a lot of evidence of trading in the run up to [[9/11]] consistent with foreknowledge. David Callahan – executive editor of SmartCEO – submitted a [[Freedom of Information Act]] request to the [[SEC]] regarding the pre-9/11 put options. He was told: "We have been advised that the potentially responsive records have been destroyed."<ref name="wb"/>
  

Revision as of 01:41, 27 April 2014

Event.png 9-11/Insider Trading Rdf-entity.pngRdf-icon.png
Interest ofLars Schall
DescriptionA mound of evidence points to insider trading. However, the 9/11 Commission decided not to investigate the matter and the SEC destroyed important records.
9-11 insider trading.jpg

Almost Irrefutable Proof?

The German Central bank studied the possibility of insider trading. According to German central bank president Ernst Welteke, the German researchers found “almost irrefutable proof of insider trading”.[1] Welteke was blunt: “What we found makes us sure that people connected to the terrorists must have been trying to profit from this tragedy.”[2]

Destruction of Evidence

There was a lot of evidence of trading in the run up to 9/11 consistent with foreknowledge. David Callahan – executive editor of SmartCEO – submitted a Freedom of Information Act request to the SEC regarding the pre-9/11 put options. He was told: "We have been advised that the potentially responsive records have been destroyed."[3]

The 9/11 Commission concluded:

Highly publicized allegations of insider trading in advance of 9/11 generally rest on reports of unusual pre-9/11 trading activity in companies whose stock plummeted after the attacks. Some unusual trading did in fact occur, but each such trade proved to have an innocuous explanation. For example, the volume of put options- investments that pay off only when a stock drops in price-surged in the parent companies of United Airlines on September 6 and American Airlines on September 10-highly suspicious trading on its face. Yet, further investigation has revealed that the trading had no connection with 9/11. A single U.S.-based institutional investor with no conceivable ties to al Qaeda purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific U.S.-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades. These examples typify the evidence examined by the investigation. The SEC and the FBI, aided by other agencies and the securities industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments. These investigators have found that the apparently suspicious consistently proved innocuous. Joseph Cella interview (Sept. 16, 2003; May 7, 2004; May 10-11, 2004); FBI briefing (Aug. 15, 2003); SEC memo, Division of Enforcement to SEC Chair and Commissioners, “Pre-September 11, 2001 Trading Review,” May 15, 2002; Ken Breen interview (Apr. 23, 2004); Ed G. interview (Feb. 3, 2004).
Footnote 130 to chapter 5 of the official 9/11 Commission report

[3]

 

Related Quotation

PageQuoteAuthorDate
2021“Speaking of shorting stock did they ever find out who shorted those airlines stocks just before 9/11? Just Asking. You Wallstreet fucks are worried about GameStop but there are deep questions that get brought up. Enjoy.”Immortal TechniqueJanuary 2021

 

Related Documents

TitleTypePublication dateAuthor(s)Description
Document:9/11 Insider Tradingarticle18 November 2010Kevin RyanEvidence for Informed Trading based on foreknowledge of the 9-11 attacks
File:911 Abnormal Trading.pdfpaper13 April 2010Wing-Keung Wong
Kweehong Teh
Howard E. Thompson
Evidence of foreknowledge about the 9-11 terrorist attacks in the form of financial trading irregularities
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