Report from WSJ: Terrorist Associates Were SHORTING Insurance, Transports?

[UNCjigga]

Read it in today's Wall Street Journal. Several brokerage firms have been in contact with the FBI regarding suspicious activity; this includes a large volume of put options and shorts on insurance stocks, airlines & other transportation stocks, etc. There was no further elaboration. Has anyone else heard anything about this?

It is really ironic. A true Muslim does not believe in interest payments and they take pride in paying the charitable 'zakat.' A fanatical zeolot OTOH will think nothing of profiting from the murder of 5000 people. Just goes to show that religion isn't really in the equation; lack of intelligence and jealousy are...

OOPS This was a repost, I searched on 'stock' but not 'short', ma bad.

 

[CocaCola5]

Yeah, they made alot of profit on this disaster.

 

[dman]

Doesn't surprise me. They need to finance their cause. They already used our airlines against us, why not use our Stock Market as well. Hopefully they get caught before their money makes it to swiss bank accounts.

 

[Tripleshot]

Freeze all assets of those who participated in profitering from this action.Then let them sort it out in court.

 

[PlatinumGold]

cocacola

they only make a lotta money on this if they are allowed to close out their positions. if it is indeed discovered that they were affiliated w/ the terrorist, then this would be the ultimate in insider trading and they should not be allowed to profit from it.

 

[GasX]

<< if it is indeed discovered that they were affiliated w/ the terrorist, then this would be the ultimate in insider trading and they should not be allowed to profit from it. >>

That is an interesting take on the situation. I wonder how those regulations would be applied.

 

[PlatinumGold]

mwilding

that would be simple, confiscate all of their possessions including their shorted positions, liquidate it and donate it to the rebuild the WTC fund and go from there.

i think anyone who shorted these stocks just shortly before 911 should be held under some kind of suspicion unless it was for obvious protection of capital gains type positions. if someone shorted some of these stocks just for the Play then you have to hold them under suspicion.

 

[GasX]

I agree with you in principle, but I don't think insider trading regulations will necessarily apply to this situation. If they don't, we would have to tread uncharted ground with respect to seizure of assets. Will be very interesting to watch it develop

 

[loosbrew]

there was a rumor going around also that there was some shifty things going on in the Japanese Market. something along the lines of a hug amount of money being put in BEFORE the accident and took out a whole bunch MORE AFTER the accident.
something is amidst in the world and im not likin it!

loosbrew

 

[PlatinumGold]

mwilding

how is it not insider trading??

wasn't there a case while back where someone put poison in tylenol so that they could short the company that makes tylenol? how is this different from that??

i think we have all the precedent we need.

 

[GasX]

An insider refers to someone within the company or closely related to it (like the company's lawyer or investment banker) who has non-public knowledge of the company's dealings. Such people are not allowed to trade on that knowledge. To that end, many investment bankers are not allowed to even hold shares of the company's clients and all have to regulary disclose their trading activity.

People who have nothing to do with the company that are betting on something bad happening to the company are not insider traders. They are probably breaking laws (I certainly hope so), but they are probably different ones. If nothing else, their actions are morally reprehensible.

 

[jehh]

Well this shouldn't be a surprise...

Were I nuts and felt like blowing up a building... I'd do it too...

Duh...

Find them and destroy them...

 

[AmbitV]

strangely enough, near the end of the trading day on 9/10 the alternative energy stocks suddenly spiked up on low volume

wonder if there's any connection there

 

Well, soon enough they won't have a pot to piss in so it does not really matter in the grand scheme of things.