That whole short selling thing has always bothered me. If you or I had pulled something like that, we would have been nailed. Anyone know what excuse they are using as to why they couldn't track the money? It seems like someone made some serious money. They say, "Al-Qaeda blah blah blah." But really? I mean where are their proofs? Where did the money go? I only remember vague explanations. "It's all very complicated," etc. Following the money is the last thing they seem to want us to do, but it seems to be their preoccupation.
Its hard to pin point short selling because of information about an attack and short selling because the economy and stocks were over heated in 2001. In fact before July there was a large number of people short selling stocks on the NYSE.
Check this out. They say the claim of massive insider trading is false. I suspect they hope you won't read what their explanation. Makes me wonder what's going on at snopes. http://www.snopes.com/rumors/putcall.asp
lol snopes is a joke. It makes me laugh when certain members here in DP P&R take the p*ss out of alternate media sites yet quote the joke of it all at snopes trying to play god by making their own "informed" opinions. They rarely even provide a clickable source to reference their crap. Idiotic and even worse than Popular Mechanics when it comes to internet joke sites.
I was looking for some examples of the insider trading before 9/11 and I found that pant load. It's not the first time they've done something like that.
It makes me LMAO seeing their status crap: Status: False. No links to back it up, nothing at all. It's a GTech utopia and he has quoted snopes often! Jesus H Christ tell me this isn't true Snopes. http://www.snopes.com/rumors/nobel.htm "Neither Bush nor Blair is likely to win."
Take a look at the dates on sources for their 9/11 debunked story. The MSM tried to put an end to that discussion really quickly--days after the fact.
"So now, the inevitable question: if terrorists didn't cause 9/11, who did? Remember that there are in fact two towers. Two minus one is one; one one - 11; two minus one is one; one one, and there are nine members on Silverstein's board of directors. That's nine-one-one. Nine-eleven. And take 2 - 1 + 9/11 and you get 12, which leads us all to the mastermind of the 9/11 attacks. Kyle! Twelve contains the numbers one and two, just like the toilet yesterday where somebody went number two instead of number one! Add one and two with 911 and you get 914! Drop the 4 and it's 91! Exactly the score Kyle got on his spelling test twelve days after 9/11! Who has the most to gain from 9/11?! Kyle! Who was nowhere to be found the morning the towers fell?! Kyle! Who dropped the deuce in the urinal?! Kyle!" Sorry, I know it's not a joking matter, but I couldn't resist.
The claim is increased option activity not insider trading, I wonder how other option in the airline industry did around this time and compare that to put options across the industry. Let’s also not forget that the stock marketed peaked a few months back and was falling, put option were a cheap way to profit from the falling market.
There were huge swings in the number of put options. It's too much of a coincidence. Look at the actual numbers and then see if their excuses add up.
Its not uncommon for stocks to have huge increases in puts or call options on non events, A couple months ago Monster had its call options increase dramatically all on just a weak rumor that google was going to buy it. Nothing concrete just a rumor. Also in the era of program trading your able to profit from price moves through options. I would like to see information comparing that option activity to other airlines who weren't victims in the act.
This is from wikipedia FWIW. The suspicious trading activity involing the arilines involved in the attack is not denied. I haven't seen anyone present evidence that other airlines were equally involved. Of course these guys blow it off, but their argument is less than convincing. http://en.wikipedia.org/wiki/Aftermath_of_the_September_11,_2001_attacks