Wednesday, February 01, 2006

American pep rally 1/31/06 Observation

I couldn't help notice, since the camera flashed right to Hillary Clinton's reaction during Bush's State of the Union address as he commented about "preventing attacks like 9/11 from happening again"....she shook her head with a cynical smirk, and that made me wonder;

The Insider Trading was absolutely one of the large factors that should NOT have gone without investigation; but heck Martha Stewart was the scapegoat for that...

9/11 Insider Trading

According to Phil Erlanger, a former Senior Technical Analyst with Fidelity , and founder of a Florida firm that tracks short selling and options trading, insiders made off with billions (not mere millions) in profits by betting on the fall of stocks they knew would tumble in the aftermath of the WTC and Pentagon attacks. [ ] Andreas von Bulow, a former member of the German Parliament, once responsible for the oversight of the German secret services, estimated that profits by insider traders were $15 billion. CBS offered a far more conservative figure when it reported (Sept 26) that "at least seven countries are dissecting suspicious trades that may have netted more than $100 million in profits."
Regardless of estimates, to Dylan Ratigan of Bloomberg Business News, the evidence was compelling; "This is the worst case of insider trading ever." [Good Morning Texas, Sept. 20, 2001] The sheer scope, size and the uncanny timing of 9-11 insider trading demanded an aggressive investigation. But the stakes involved, with nearly 3000 dead, have never been higher for financial crimes investigators.

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