http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1090580208105680.xml
SEC probe finds no evidence of Sept. 11 terrorist trade schemes Friday, July 23, 2004 Associated Press Washington- After an extensive investigation, the government has found no evidence that terrorists tried to profit from stock and options trading before the Sept. 11 attacks, the Securities and Exchange Commission said Thursday. "In the course of that review, we did not develop any evidence suggesting that anyone who had advance knowledge of the Sept. 11 attacks traded on the basis of that information," the SEC said. That conclusion, included in the final report issued Thursday by the Sept. 11 commission, was the government's first public statement on the findings of the trading investigation. SEC spokesmen would not say when the inquiry was completed. The world's largest options market, the Chicago Board Options Exchange, said in September 2001 that it was investigating reports of unusual trading activity before the attacks on the World Trade Center and the Pentagon. Germany's stock market regulator said it was looking into claims of suspicious short-selling of insurance company shares just before the attacks. Investors engaged in short selling profit if a stock's price falls. http://www.blogger.com/post-edit.g?blogID=25253285&postID=114401127481088517 --- In [email protected], "authfriend" <[EMAIL PROTECTED]> wrote: > > --- In [email protected], "shempmcgurk" <shempmcgurk@> > wrote: > > > > Mark: now that you have been informed (by the snopes posting by Anon) > > that the American Airlines put options purchase was counterbalanced > > by the purchase by the same institutional buyer of American stock, do > > you still feel that this was a suspicious trade, as you indicated in > > a previous post? > > Let's not forget, by the way, that the suspicious trading > involved far more than stock in just the two airline > companies. > > There was unusual trading in the stock of firms whose > offices were in the World Trade Center, including Morgan > Stanley, Lehman Bros., Bank of America, and Marsh & > McLennan; insurance companies Munich Re (Germany) and AXA > Group (France), which combined were on the hook for about > $2 billion in damages from the attacks, as well as American > International Group, Swiss Reinsurance, Chubb, Cigna, CNA > Financial, John Hancock, and MetLife; plus General Motors, > Raytheon, Continental, Delta, Northwest, Southwest, > USAirways, Boeing, Lockheed Martin, and Citigroup (38 > companies in all); there was also a surge in the purchase > of five-year Treasury notes and unusual movement in gold > and oil prices. > > Also, as of September 29, 2001, according to the San > Francisco Chronicle: > > Investors have yet to collect more than $2.5 million in profits they > made trading options in the stock of United Airlines before the Sept. > 11 terrorist attacks, according to a source familiar with the trades > and market data. > > The uncollected money raises suspicions that the investors -- whose > identities and nationalities have not been made public -- had advance > knowledge of the strikes. > > "Usually, if someone has a windfall like that, you take the money and > run," said the source, who spoke on condition of anonymity. "Whoever > did this thought the exchange would not be closed for four days. > > "This smells real bad." > > The source and others in the financial industry speculate that the > purchaser or purchasers -- having initially assumed the money could be > picked up without detection -- now fear exposure, or that the account > has been frozen. > > The markets were closed for four days after the attack, giving > investigators time to notice the anomalous trades. > To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
