9/11 Put Options and the SEC

[ThoughtCriminal]

While I was sleeping last week, the SEC reported that it had found no evidence that anyone profited from stock and options trading based on advance knowledge of the attacks.

http://www.forbes.com/business/energy/feeds/ap/2004/07/22/ap1466836.html
:wtf:
As usual, there seems to have been marginal coverage of this by the media, and no critical analysis of the findings. Given the record number of put options on UAL and AA and the fact that the profits were unclaimed, I find it hard to buy the SEC's conclusion.

[ewagner]

1. The 9/11 Commission has

to make their findings public for everybody to examine.

My guess is that with the vast amount of knowledgeable people here at DU, a LOT can be gleaned from their findings.

9. Halliburton stock dropped like rock after Aug 06 2001 memo, 'til Sept 11

In particular, does the report analyze trading in Halliburton?

I you look at the stock chart for Halliburton, the stock peaked, then dropped almost every day until Sept. 11th. When did it reverse?

The day the infamous PDB memo was went to the White House--August 6th.

What did the memo say which George and Dick read???

"Nevertheless, FBI information since that time indicates patterns of suspicious activity in this country consistent with preparations for hijackings or other types of attacks, including recent surveillance of federal buildings in New York.

The FBI is conducting approximately 70 full-field investigations throughout the U.S. that it considers bin Laden-related. CIA and the FBI are investigating a call to our embassy in the UAE in May saying that a group or bin Laden supporters was in the U.S. planning attacks with explosives."

http://www.cnn.com/2004/ALLPOLITICS/04/10/august6.memo/

(For next five weeks Halliburton stock plummeted)

Here is the evidence--note in particular, heavy volume on Halliburton stock a few days after the memo was sent to the White House:

http://finance.yahoo.com/q/hp?s=HAL&a=07&b=01&c=2001&d=08&e=11&f=2001&g=d

11. kick

12. kick

13. ...But the stock of Halliburton's competitor does NOT show the pattern!

Unlike Halliburton, their main competitor's (Schlumberger Ltd (SLB)) stock did NOT show the pattern of dropping every day after the August 6th memo until Sept 11th!

http://finance.yahoo.com/q/hp?s=SLB&a=06&b=31&c=2001&d=08&e=10&f=2001&g=d

So some folks at HALLIBURTON knew about the White House memo, but not at HALLIBURTON'S competitor.

In FACT, HALLIBURTON is the ONLY stock in this sector which fell like that! i just checked other competitors!

This deservers more investigation--how many of CHENEY'S FRIENDS were making money based on the August 06 memo????

14. kick

[Jacobin]

2. Part of the general whitewash

In the months after the attack, there were numerous reports of short selling of those stocks which were way off the charts. Methinks some of Smirky's Saudi friends were the beneficiaries and it would be just too embarrassing to talk about this in the open.

[ThoughtCriminal]

7. What is lacking

in any of the stories about the SEC report is just how the #@&$ they reached that "Conclusion" and who the investors were.

[Trillo]

3. I remember reading an article about this in the last two weeks.

I believe it said that according to the 9/11 Commission, put options came from one source, an institutional investor, then to paraphrase, that investor was above reproach.

[ThoughtCriminal]

4. Want to bet that's Buzzy Krongard

Former CIA Exectutive Director appointed by Bush Sr.? That would explain "Beyond reproach".

Krongrad's firm was reported to be the one used to place the put options. Nothing to see here...move along...

[tom_paine]

6. Yep, him or one of the other Imperial Retainers

"Above reproach" my ass! When is the Establishment going to wake up and SEE what a nest of VIPERS the Imperial Family is?

Because IF WE DON'T STOP THEM NOW, even if Kerry gets elected, and break the back of their power, the next time they sezie power in a Coup, they won't allow ANYTHING to knock them out of power

(though only time will tell if the Imperial Scum have reached that point NOW--LIHOP #2 anyone?)

[Scorpious_Maximus]

5. BULLSHIT

:hurts:

[Th1onein]

8. That's a lie! There is still unclaimed money from those put options!

eom

[ewagner]

10. That's my understanding also

As I understood it profits were paid to those accounts but there was never any claim or withdrawal or any activity at all after that.

15. kick