Profiting from terror

Q

stepmosnter
Staff member
This "short selling" happened between the time of the attacks and the closing of the stock market?
 

Mikelh

New Member
According to investigative sources, it took place 3 days leading up to the attack.

It is estimated that UAL and American had put options, short selling, at 12 times the normal rate.

The good thing is, the trading world is on notice, and payments are being guarded to prevent them from capitalizing on terrorist activities.

Michael
 

alex

Member
find those bastards, take all thier money and give it to the victom's families and to the airlines :smash:
 

Q

stepmosnter
Staff member
So, if this was going on 3 days before the attack...didn't these traders have some kind of an inking something was going to happen?
 

Mikelh

New Member
Originally posted by Q
So, if this was going on 3 days before the attack...didn't these traders have some kind of an inking something was going to happen?

Using hindsight, yes! But then again, with only 47 passengers onboard the flight that crashed in PA., did anyone stop to think why there were so many mideastern surnames on the flight manifest prior to takeoff? We missed alot of tips. Shamelfully so, but now at least we are on guard for obvious terrorist characteristics.

Just last evening in Detroit, three men were arrested on ID fraud. This is nothing new. It's been going on for years! Perhaps it took something this big to call us to arms?



Michael
 

BigDadday

Everday People
Agree^ but this is also the time where all the american-arabs are scared that they will become the victims of us!
 

Mikelh

New Member
More from ABC news.

• Possible Terrorist Stock Trading Probed

New evidence has emerged of a possible effort by the terrorists who perpetrated last week's attacks to profit financially from the tragedy.

The Treasury Department, the Securities and Exchange Commission and a Chicago exchange have launched a major investigation into some suspicious and highly sophisticated stock trading just prior to the Sept. 11 terror attacks.

Investigators are probing highly unusual trading in "puts" — basically bets made by an investor that a stock's price will fall by a certain date.

The week before the attack, virtually unheard of numbers of puts were sold for United Airlines and American Airlines, which operated the four hijacked planes; Morgan Stanley, the investment bank which occupied more than 20 floors in the now-destroyed twin towers; and a number of other companies that were adversely affected by the tragedy and whose stocks plunged as a result.

"This would be one of the most extraordinary coincidences in the history of mankind if it was a coincidence," Dylan Ratigan of Bloomberg Business News said today on ABCNEWS' Good Morning America.

If it's not a coincidence and the money trail does lead to terrorist groups, they will have made a fortune.

"Millions of dollars, tens of millions of dollars on a bet that all told could be $600,000 turned into $10 million, $20 million," Ratigan said.

"This could very well be insider trading at the most horrific, most evil use you've ever seen in your entire life."

A senior intelligence official told ABCNEWS: "We still don't have any direct confirmation that [bin Laden] was involved in selling stocks short — yet."

The Treasury Department's Foreign Terrorist Asset Tracking Center has launched an effort to track financial transactions of members of bin Laden's terrorist network. The FBI today asked banks to check their records and report any transactions with any of the named terrorist suspects
 

Mikelh

New Member
Originally posted by BigDadday
Agree^ but this is also the time where all the american-arabs are scared that they will become the victims of us!

They have nothing to fear if they are law abiding citizens. I believe America, for the most part, will defend the Arab-American people who cherish this country and abide by its laws.

I've already seen that defense take place!

My wish is this: There will cease to exist Irish Americans, African Americans, Arab Americans, Italian Americans, and on and on and on..let's be Americans!

Michael
 

Gonzo

Infinitesimally Outrageous
Staff member
Originally posted by Mikelh
My wish is this: There will cease to exist Irish Americans, African Americans, Arab Americans, Italian Americans, and on and on and on..let's be Americans!

Michael

I've been wishing that for years-here's to it:beerchug:
 
Top