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Context of 'September 10, 2001: Alarm Bells Sound over Unusual Trading in US Stock Options Market'

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According to CBS News, in the afternoon before the attack, “alarm bells were sounding over unusual trading in the US stock options market.” It has been documented that the CIA, the Mossad, and many other intelligence agencies monitor stock trading in real time using highly advanced programs such as Promis. Both the FBI and the Justice Department have confirmed the use of such programs for US intelligence gathering through at least this summer. This would confirm that the CIA should have had additional advance warning of imminent attacks against American and United Airlines planes. [CBS News, 9/19/2001] There are even allegations that bin Laden was able to get a copy of Promis. [Fox News, 10/16/2001]

Entity Tags: Promis, Central Intelligence Agency, Federal Bureau of Investigation, US Department of Justice, Israel Institute for Intelligence and Special Tasks (Mossad)

Timeline Tags: Complete 911 Timeline, 9/11 Timeline

Spokesperson Paul Bresson announces that the FBI has concluded that there was no insider trading in US securities markets by people with advance knowledge of the 9/11 attacks. According to Bresson, the “vast majority” of a pre-attack surge of trading in options that bet on a drop in the stock of AMR Corp., which owns American Airlines, and UAL Corp., which owns United Airlines, was conducted by investment hedge funds implementing bearish investment strategies or hedging a line position of common stock, and was not linked to terrorists. [9/11 Commission, 8/18/2003 pdf file; St. Petersburg Times, 9/19/2003; Washington Post, 9/19/2003] However, seven months later, a paper by a professor of finance at the University of Illinois will conclude that “there is evidence of unusual option market activity in the days leading up to September 11” (see April 25, 2004). [Poteshman, 3/10/2004]

Entity Tags: Federal Bureau of Investigation, American Airlines, Paul Bresson, United Airlines

Timeline Tags: Complete 911 Timeline, 9/11 Timeline

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