Part of an article by William Bunch of the Philadelphia Daily News & the Prague Post
A thought provoking snippet from a longer article; I thought fellow members might be interested.
Sean
Who made a small fortune "shorting" airline and insurance stocks before Sept. 11?
On Sept. 10, 2001, the trading ratio on United Airlines was 25 times greater than normal at the Pacific Exchange, where traders could buy "puts" -- high-risk bets that the price of a company's stock will fall sharply. The next day, two hijacked United jetliners crashed, causing the company's shares to plummet and ultimately leading United into bankruptcy.
The unusual stock trading suggests that someone with a sophisticated knowledge of finance also had advance information about the impending attack. CBS later reported that "alarm bells were sounding" at intelligence agencies about the trades. But two years later, no one has been charged in this matter; officials have not indicated even if the probe is still open.
A thought provoking snippet from a longer article; I thought fellow members might be interested.
Sean
Who made a small fortune "shorting" airline and insurance stocks before Sept. 11?
On Sept. 10, 2001, the trading ratio on United Airlines was 25 times greater than normal at the Pacific Exchange, where traders could buy "puts" -- high-risk bets that the price of a company's stock will fall sharply. The next day, two hijacked United jetliners crashed, causing the company's shares to plummet and ultimately leading United into bankruptcy.
The unusual stock trading suggests that someone with a sophisticated knowledge of finance also had advance information about the impending attack. CBS later reported that "alarm bells were sounding" at intelligence agencies about the trades. But two years later, no one has been charged in this matter; officials have not indicated even if the probe is still open.
