One large UAL put order was sent to the bustling CBOE floor in the days prior to September 11 by a customer of Deutsche Bank. The primary trading post
for UAL expected to handle the whole 2,500-contract order. Instead, the customer split that into chunks of 500 contracts each, directing each order to
various exchanges around the country simultaneously, according to people familiar with the trade. Moreover, some of the options have yet to be
exercised, possibly because those customers' accounts have been frozen.
This information gives reason that the feds have all the information and are not releasing it? What are the names of the people that did this since
members doing trading must have personal ID accounts set up and bank account numbers.
So, as Deep Throat suggested in the Watergate scandal, maybe investigators should follow the money -- to the S&P index options.
According to Phil Erlanger, a former Senior Technical Analyst with Fidelity , and founder of a Florida firm that tracks short selling and options
trading, insiders made off with billions (not mere millions) in profits by betting on the fall of stocks they knew would tumble in the aftermath of
the WTC and Pentagon attacks. [www.erlangersqueezeplay.com...
] Andreas von Bulow, a former member of the German Parliament, once responsible for
the oversight of the German secret services, estimated that profits by insider traders were $15 billion. CBS offered a far more conservative figure
when it reported (Sept 26) that "at least seven countries are dissecting suspicious trades that may have netted more than $100 million in
Suspicious trading was first identified by Japanese authorities. But soon concerns were raised and a pattern could be discerned in countries around
the world including Singapore, Hong Kong, Italy, France, Switzerland, the Netherlands, Great Britain, Germany and Canada. 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 US to North America to
Europe." [World News Tonight, Sept. 20, 2001]
Thirty-eight companies were placed on a SEC list and circulated amongst brokerages that placed the put options on behalf of clients. These included
among many others, TD Waterhouse, NFS (subsidiary of Fidelity of Boston), Alex Brown/Deutsche Bank, Goldman Sachs, and Lehman Brothers. [The San
Francisco Chronicle; AP]. In the January 2002 Congressional record, an informal survey conducted by Levin-Grassley staffs, revealed that 10 of 22
responding securities and brokerage firms, managed accounts for 45,000 offshore clients.
Remember that Goldman sachs had the Gold in the WTC.s and this is beginning to point to the 160 billion in gold that was removed from the bank vaults
just prior to and on 911.
Analysts also noted that though the insurance sector was one of the strongest in a depressed stock market, there were huge spikes in put options in
Marsh & McLennan and in Citigroup. Marsh & McLennan, the biggest insurance broker, was a World Trade Center tenant with 1,700 employees. It also saw,
next to UAL, the highest spike in put options; thus you have a confluence of facts that, in the minds of many experienced traders and experts, amounts
to unequivocal evidence of foul play. Clearly traders placed bets based on sure-fire insider prior knowledge. The odds against this happening randomly
or coincidentally are astronomical; probably incalculable.
Unusual high volume in pre-attack 5 year bond trading The Wall Street Journal reported on October 2 that the Secret Service had begun a probe into an
unusually high volume of five-year US Treasury note purchases made prior to the attacks. The Treasury note transactions included a single $5 billion
trade. The Journal noted that "Five-year Treasury notes are among the best investments in the event of a world crisis, especially one that hits the
This information indicates that not only was news about put options tightly with held from American, but many investigations such as the 911
commission. The entire stock market including bonds up to 5 billion dollars in treasury buys were inacted just before 911.
There are fears now that early 'naysayers' may have let a hot trail to go cold and allowed the terrorist insiders to cover their tracks. Despite
all the evidence to the contrary, the FBI's Dennis Lormel said on October 3, 2001 before Congress that there were "no flags or indicators"
referring to mere "rumors" about the pre-attack insider trading.
There are estimates of several trillion dollars in short trading in effected companies, commodities, treasury bonds and oil puts.
Why has this not been investigated in the fullest.
[edit on 12-9-2006 by mondegreen]