A September 21 story by the Israeli Herzliyya International Policy Institute for Counterterrorism, entitled “Black Tuesday: The World’s Largest Insider Trading Scam?” documented the following trades connected to the September 11 attacks:

    Between September 6 and 7, the Chicago Board Options Exchange saw purchases of 4,744 put options on United Airlines, but only 396 call options… Assuming that 4,000 of the options were bought by people with advance knowledge of the imminent attacks, these “insiders” would have profited by almost $5 million.
    On September 10, 4,516 put options on American Airlines were bought on the Chicago exchange, compared to only 748 calls. Again, there was no news at that point to justify this imbalance;… Again, assuming that 4,000 of these options trades represent “insiders,” they would represent a gain of about $4 million.
    [The levels of put options purchased above were more than six times higher than normal.]
    No similar trading in other airlines occurred on the Chicago exchange in the days immediately preceding Black Tuesday.
    Morgan Stanley Dean Witter & Co., which occupied 22 floors of the World Trade Center, saw 2,157 of its October $45 put options bought in the three trading days before Black Tuesday; this compares to an average of 27 contracts per day before September 6. Morgan Stanley’s share price fell from $48.90 to $42.50 in the aftermath of the attacks. Assuming that 2,000 of these options contracts were bought based upon knowledge of the approaching attacks, their purchasers could have profited by at least $1.2 million.
    Merrill Lynch & Co., which occupied 22 floors of the World Trade Center, saw 12,215 October $45 put options bought in the four trading days before the attacks; the previous average volume in those shares had been 252 contracts per day [a 1200% increase!]. When trading resumed, Merrill’s shares fell from $46.88 to $41.50; assuming that 11,000 option contracts were bought by “insiders,” their profit would have been about $5.5 million.
    European regulators are examining trades in Germany’s Munich Re, Switzerland’s Swiss Re, and AXA of France, all major reinsurers with exposure to the Black Tuesday disaster. [FTW Note: AXA also owns more than 25% of American Airlines stock making the attacks a "double whammy" for them.]

On September 29, 2001 – in a vital story that has gone unnoticed by the major media – the San Francisco Chronicle reported, “Investors have yet to collect more than $2.5 million in profits they made trading options in the stock of United Airlines before the Sept. 11, terrorist attacks, according to a source familiar with the trades and market data.

    “The uncollected money raises suspicions that the investors – whose identities and nationalities have not been made public – had advance knowledge of the strikes.” They don’t dare show up now. The suspension of trading for four days after the attacks made it impossible to cash-out quickly and claim the prize before investigators started looking.

    “… October series options for UAL Corp. were purchased in highly unusual volumes three trading days before the terrorist attacks for a total outlay of $2,070; investors bought the option contracts, each representing 100 shares, for 90 cents each. [This represents 230,000 shares]. Those options are now selling at more than $12 each. There are still 2,313 so-called “put” options outstanding [valued at $2.77 million and representing 231,300 shares] according to the Options Clearinghouse Corp.”

    “…The source familiar with the United trades identified Deutsche Bank Alex. Brown, the American investment banking arm of German giant Deutsche Bank, as the investment bank used to purchase at least some of these options…”

As reported in other news stories, Deutsche Bank was also the hub of insider trading activity connected to Munich Re. just before the attacks.

911 was an inside job by Bush insiders

It obviously couldn't be an inside job by Bush outsiders ?

But a more important story – and one which might focus on a more appropriate country than Iraq – is that the co-chair of the Congressional Joint 9/11 Inquiry (Bob Graham) today alleged a cover up by the U.S. government of state assistance by Saudi Arabia to the 9/11 hijackers.

Graham is no flake. He was a member of the Senate Select Committee on Intelligence for 10 years (including 18 months as chairman), member of the CIA External Advisory Board, chairman of the Commission on the Prevention of Weapons of Mass Destruction Proliferation and Terrorism, 18-year U.S. senator, two-term governor of Florida, co-chair of the national commission on the BP oil spill, and member of the Financial Crisis Inquiry Commission.

Graham writes today in the Daily Beast:

The first two hijackers who entered the United States did so through Los Angeles International Airport in mid-January 2000. Within days they were urged by a shadowy man, already described in an FBI report as an “agent” of the Saudi government, to relocate to San Diego with promises of extensive support–promises on which he promptly delivered.?
The agent’s cover was as a ghost employee of a contractor to an agency of the Saudi government–paid a salary and allowances but never expected to show up and work. His real job was to monitor Saudi youth in San Diego getting an education to ensure they were not also plotting the overthrow of the monarchy.?
When the two future hijackers reached San Diego, the agent’s allowances were substantially increased. Upon their arrival the agent secured and paid for an apartment. He arranged flight lessons. He introduced them to a tight circle of Muslims, primarily Saudis, who offered additional support.?
Yet the support being funneled to the two visitors proved insufficient for their decidedly non-Islamic tastes–alcohol, strip clubs, even a desired, though unfulfilled, marriage to a stripper. The agent then tapped another source of funds: a welfare account maintained for the benefit of Saudis in need by the wife of the kingdom’s ambassador to the United States.?
That is some of what we do know, and we got a sufficient glimpse to know what we didn’t know. Still unanswered after nearly 10 years are the questions of the full extent of the Saudi pre-9/11 involvement: Did any or all of the other 17 receive support from Saudi interests? Why would Saudi Arabia do this? Do the Saudis have the will and capability to aid future attacks against the United States? And most important: Why the cover-up by our government?
I have attempted to address these questions in the final report of the congressional commission and the nonfiction book Intelligence Matters , published in 2004. Each was censored by authorities in the intelligence community, particularly on the role of the Saudis in 9/11.
***
Why would the Saudis have given substantial assistance to at least two of the hijackers, and possibly all 19? The answer I have come to is survival –survival of the state and survival of the House of Saud.
This is stunning. Graham is saying – and actually has said for years – that the Saudis were involved in 9/11, but the U.S. government has been censoring this fact.

But it doesn’t end there.

Investigators for the Congressional [9/11] Joint Inquiry discovered that an FBI informant had hosted and even rented a room to two hijackers in 2000 and that, when the Inquiry sought to interview the informant, the FBI refused outright, and then hid him in an unknown location, and that a high-level FBI official stated these blocking maneuvers were undertaken under orders from the White House.

As the New York Times notes:

Senator Bob Graham, the Florida Democrat who is a former chairman of the Senate Intelligence Committee, accused the White House on Tuesday of covering up evidence . . .

* * *

The accusation stems from the Federal Bureau of Investigation’s refusal to allow investigators for a Congressional inquiry and the independent Sept. 11 commission to interview an informant, Abdussattar Shaikh, who had been the landlord in San Diego of two Sept. 11 hijackers.

In his book “Intelligence Matters,” Mr. Graham, the co-chairman of the Congressional inquiry with Representative Porter J. Goss, Republican of Florida, said an F.B.I. official wrote them in November 2002 and said “the administration would not sanction a staff interview with the source.” On Tuesday, Mr. Graham called the letter “a smoking gun” and said, “The reason for this cover-up goes right to the White House.”

And see this Newsweek article.

The co-chairs of the 9/11 Commission also described numerous obstructions of justice by the government into the 9/11 inquiry.

As I also pointed out last year, Graham – as well as the co-chairs of the 9/11 Commission – found that witnesses were also intimidated into being quiet:

As I detailed previously, both the Joint Intelligence Committee and 9/11 Commission investigations into 9/11 had government “minders” intimidating witnesses into not saying anything the government didn’t like.

You may assume that the issue of “minders” is overblown, and is not really that important.

But, as the New York Times noted in 2003:

The panel [i.e. the 9/11 Commission] also said the failure of the Bush administration to allow officials to be interviewed without the presence of government colleagues could impede its investigation, with the commission’s chairman suggesting today that the situation amounted to “intimidation” of the witnesses.

***

[9/11 Commission co-chairs] Mr. Kean and Mr. Hamilton suggested that the Justice Department was behind a directive barring intelligence officials from being interviewed by the panel without the presence of agency colleagues.

At a news conference, Mr. Kean described the presence of “minders” at the interviews as a form of intimidation. “I think the commission feels unanimously that it’s some intimidation to have somebody sitting behind you all the time who you either work for or works for your agency,” he said. “You might get less testimony than you would.”

“We would rather interview these people without minders or without agency people there,” he said.

And as I previously noted, a recently released 9/11 Commission memo complains that:

Minders “answer[ed] questions directed at witnesses;”
Minders acted as “monitors, reporting to their respective agencies on Commission staffs lines of inquiry and witnesses’ verbatim responses.” The staff thought this “conveys to witnesses that their superiors will review their statements and may engage in retribution;” and
Minders “positioned themselves physically and have conducted themselves in a manner that we believe intimidates witnesses from giving full and candid responses to our questions.”
Still think this isn’t an important issue?

Senator Bob Graham, former chairman of the Senate Intelligence Committee, and chair of the Joint Inquiry of the House and Senate Intelligence Committees into 9/11, said in 2005:

The [9/11] commission’s findings were based on an interview with al-Bayoumi in Saudi Arabia with Saudi Arabian officials present. “He had no motivation to speak truthfully as to his role,” he said.

When government officials are present, it creates conditions where the witness “has no motivation to speak truthfully.”

Bottom Line: The co-chairs of the 9/11 Commission, Tom Keane and Lee Hamilton, and chair of the the Joint Inquiry of the House and Senate Intelligence Committees into 9/11, Bob Graham, said that minders obstructed the investigation into 9/11.

In his Daily Beast article today, Graham also goes into more detail regarding the American cover up of 9/11:

The most perplexing unanswered question remains: Why would the United States engage in a cover-up? Many have pointed to the special personal friendship between the royal family and the highest levels of our national government. The fact that the Saudis were allowed to fly a planeload of their elite home from the United States in the days immediately after 9/11, when all other commercial aviation was grounded, is often cited as support for that position. In fact, all that actions such as this do is make America’s post-9/11 reaction to the Saudis even more mysterious.

Secrets deemed this critical by both governments are bound to be buried under many layers of official protection and unofficial obfuscation. The actions since 9/11 are a perverted application of Winston Churchill’s truism on the Allies’ plans to end World War II: “In wartime, truth is so precious that she should always be attended by a bodyguard of lies.”

How far has the American cover up gone?

Here are some hints:

The 9/11 Commission’s co-chairs said that the 9/11 Commissioners knew that military officials misrepresented the facts to the Commission, and the Commission considered recommending criminal charges for such false statements (free subscription required)
9/11 Commission co-chair Lee Hamilton says “I don’t believe for a minute we got everything right”, that the Commission was set up to fail, that people should keep asking questions about 9/11, and that the 9/11 debate should continue
9/11 Commissioner Timothy Roemer said “We were extremely frustrated with the false statements we were getting”
9/11 Commissioner Max Cleland resigned from the Commission, stating: “It is a national scandal”; “This investigation is now compromised”; and “One of these days we will have to get the full story because the 9-11 issue is so important to America. But this White House wants to cover it up“
9/11 Commissioner Bob Kerrey said that “There are ample reasons to suspect that there may be some alternative to what we outlined in our version . . . We didn’t have access . . . .” He also says that it might take “a permanent 9/11 commission” to end the remaining mysteries of September 11.
And the Senior Counsel to the 9/11 Commission (John Farmer) – who led the 9/11 staff’s inquiry – recently said “At some level of the government, at some point in time…there was an agreement not to tell the truth about what happened“. He also said “I was shocked at how different the truth was from the way it was described …. The tapes told a radically different story from what had been told to us and the public for two years….