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El Blanco El Blanco is offline
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Join Date: Feb 2003
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Old Apr 3rd, 2008, 07:51 AM       
Inter agency bullshit. Not new. Its something that needs to be fixed, but its really not that nefarious. the 9/11 Commission does address this sort of thing. One of their main recommendations was more cooperation between agencies.


And speaking of the 9/11 Commission, they did address the accusations of insider trading. Snopes covers it. 8 seconds of searching, Geggy.

Here's the passage from the report Page 499, note 130 for chapter 5

Quote:
130. Highly publicized allegations of insider trading in advance of 9/11 generally rest on reports of unusual pre-9/11 trading activity in companies whose stock plummeted after the attacks. Some unusual trading did in fact occur, but each such trade proved to have an innocuous explanation. For example, the volume of put options- investments that pay off only when a stock drops in price-surged in the parent companies of United Airlines on September 6 and American Airlines on September 10-highly suspicious trading on its face.Yet, further investigation has revealed that the trading had no connection with 9/11.A single U.S.-based institutional investor with no conceivable ties to al Qaeda purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific U.S.-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades.These examples typify the evidence examined by the investigation.The SEC and the FBI, aided by other agencies and the securities industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments.These investigators have found that the apparently suspicious consistently proved innocuous. Joseph Cella interview (Sept. 16, 2003; May 7, 2004; May 10-11, 2004); FBI briefing (Aug. 15, 2003); SEC memo, Division of Enforcement to SEC Chair and Commissioners, "Pre-September 11, 2001 Trading Review," May 15, 2002; Ken Breen interview (Apr. 23, 2004); Ed G. interview (Feb. 3, 2004).

OK, its baseball season. I've got plenty of other examples of people being idiots without dealing with you. I'm not doing your homework anymore. Research your bullshit yourself.
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