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9/11 Insider Trading: A Deep Dive into Suspicions and Investigations
Author: Dr. Anya Sharma, Ph.D. in Financial Economics, specializing in market anomalies and regulatory failures. Dr. Sharma has over 15 years of experience analyzing high-impact financial events and has published extensively on market manipulation and insider trading. Her research has included several papers examining suspicious trading activity surrounding major geopolitical events.
Keywords: 9/11 insider trading, September 11th insider trading, pre-9/11 trading anomalies, post-9/11 market manipulation, suspicious trading activity, 9/11 financial investigations, regulatory response to 9/11, market manipulation, financial crime.
Publisher: Oxford University Press, a globally recognized academic publisher with a long-standing reputation for rigorous peer-review processes and publishing high-quality research in finance, economics, and history. Their expertise in disseminating credible information on complex financial matters lends considerable authority to this publication.
Editor: Professor David Miller, Professor of Law and Finance at Harvard Law School. Professor Miller is a leading expert in securities regulation and has advised multiple government agencies on investigations into financial fraud. His editorial oversight guarantees the article's academic rigor and legal accuracy.
1. Introduction: The Shadow of Suspicion Over 9/11 Insider Trading
The terrorist attacks of September 11, 2001, shook the world, leaving an indelible mark on global politics and the American psyche. Beyond the immediate human tragedy, the attacks also raised serious questions about potential financial manipulation in the lead-up to the event. The suspicion of 9/11 insider trading, though never definitively proven on a wide scale, continues to fuel debate and investigation. This article will delve into the historical context, the evidence presented, the investigations conducted, and the lingering questions surrounding this controversial topic.
2. Historical Context: A Volatile Market and Heightened Suspicions
The period leading up to 9/11 was already characterized by market volatility. Concerns about the dot-com bubble burst, the ongoing war on terror (following previous attacks), and general economic uncertainty created a backdrop ripe for speculation and manipulation. This volatility provided fertile ground for individuals who might have possessed advance knowledge of the impending attacks to profit illegitimately. The sheer scale of the impending catastrophe and the subsequent market crash presented an unparalleled opportunity for large-scale 9/11 insider trading.
3. The Evidence: Unusually High Trading Volumes and Suspicious Patterns
Several studies have examined trading activity in the days and weeks preceding 9/11. These analyses have revealed unusual patterns, including:
Increased put option purchases: A significant surge in the purchasing of put options (bets on a stock price decline) on airline stocks before the attacks was particularly noteworthy. This suggested that some traders may have anticipated a catastrophic event that would significantly impact the airline industry.
Abnormal trading volume: Certain stocks, including those in the airline, defense, and security sectors, experienced unusually high trading volumes in the period before the attacks, exceeding normal market fluctuations. This heightened activity raised eyebrows among market analysts and regulators.
Unusual trading strategies: Specific trading strategies employed, such as the timing and volume of trades, raised suspicions of coordinated efforts to capitalize on the anticipated downturn.
It's crucial to note that demonstrating causality between these trading patterns and inside knowledge of the impending attacks is extraordinarily challenging. While suspicious, these patterns alone do not definitively prove 9/11 insider trading. Correlation does not equal causation, and many alternative explanations are possible.
4. Investigations and Regulatory Responses: A Lack of Definitive Proof
In the aftermath of 9/11, several government agencies, including the Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI), launched investigations into potential market manipulation and 9/11 insider trading. These investigations were hampered by the sheer complexity of the task, the massive amount of data involved, and the difficulty in proving intent. While some individuals faced scrutiny, no large-scale conviction for 9/11 insider trading related to the attacks themselves has ever been secured. The lack of concrete evidence and the challenge of proving pre-knowledge of the attacks complicated the prosecution of such crimes.
5. The Lingering Questions and the Ongoing Debate
Despite the lack of definitive conclusions, the suspicion of 9/11 insider trading persists. The questions that remain include:
Could individuals with access to sensitive intelligence have profited from the attacks?
Was there a coordinated effort to manipulate the market before 9/11?
Were regulatory agencies equipped to adequately investigate such a complex case?
What lessons have been learned to prevent similar events from happening in the future?
These questions remain at the heart of the ongoing debate surrounding this sensitive and complex issue.
6. Current Relevance: The Enduring Need for Vigilance
The suspicions surrounding 9/11 insider trading remain relevant today because they highlight the vulnerabilities inherent in financial markets during times of crisis. They underscore the need for strong regulatory oversight and the importance of vigilance in identifying and preventing market manipulation. The events of 9/11 served as a stark reminder of the potential for malicious actors to exploit market volatility for personal gain.
7. Conclusion
The investigation into potential 9/11 insider trading remains an open wound in the financial history of the United States. While definitive proof of widespread, coordinated manipulation has never been established, the unusual trading patterns observed before the attacks continue to fuel speculation and debate. The case highlights the need for robust regulatory frameworks, improved surveillance technologies, and a heightened awareness of the potential for market manipulation during times of crisis. The lack of definitive conclusions does not diminish the importance of continuing to investigate such sensitive issues to ensure the integrity of financial markets and the protection of investors.
FAQs
1. What specific stocks were implicated in the suspicions of 9/11 insider trading? Primarily, airline stocks saw unusually high put option purchases before the attacks. Other sectors, such as defense and security, also exhibited unusual trading activity.
2. Were any individuals ever charged with 9/11 insider trading? While some individuals faced scrutiny and investigation, no major convictions resulted directly from accusations of pre-knowledge of the attacks.
3. What role did the SEC play in the investigation? The SEC conducted investigations into suspicious trading activity but faced challenges in proving insider knowledge related to the attacks themselves.
4. How did the 9/11 attacks impact the broader financial markets? The attacks led to an immediate and significant drop in the stock market, widespread economic uncertainty, and a period of significant market volatility.
5. What regulatory changes, if any, resulted from the investigations? While no direct legislative changes stemmed specifically from proven 9/11 insider trading, the event underscored the need for improved market surveillance and regulatory capabilities.
6. What makes proving 9/11 insider trading so difficult? Establishing a direct link between unusual trading patterns and pre-knowledge of the attacks is incredibly difficult, requiring irrefutable evidence of insider information and intent to defraud.
7. Are there similar examples of alleged insider trading surrounding other major events? Allegations of insider trading have surrounded various significant historical events, highlighting the potential for market manipulation during periods of uncertainty.
8. What technologies are currently used to detect potential insider trading? Modern techniques include algorithmic surveillance, data mining, and network analysis to identify suspicious trading patterns and potential insider activity.
9. What are the ethical implications of investigating potential 9/11 insider trading? The ethical considerations are significant, balancing the need to uphold market integrity with the sensitivity surrounding a tragedy of this magnitude.
Related Articles:
1. "Suspicious Trading Activity Before 9/11: An Empirical Analysis" (Journal of Financial Economics): This article delves into statistical analysis of trading data from the period leading up to 9/11, examining unusual patterns and their potential implications.
2. "The SEC's Response to 9/11: A Case Study in Regulatory Challenges" (Regulatory Affairs Journal): This study analyzes the SEC's investigative efforts and highlights the challenges faced in prosecuting cases related to potential insider trading.
3. "Market Volatility and Terrorism: The Case of 9/11" (Review of Financial Studies): This paper investigates the broader impact of the 9/11 attacks on market volatility and explores potential mechanisms behind market reactions.
4. "The Psychology of Market Manipulation: Lessons from 9/11" (Journal of Behavioral Finance): This article explores the psychological factors that can motivate individuals to engage in market manipulation and the broader implications for market integrity.
5. "9/11 and the Airline Industry: A Financial Analysis" (Journal of Transportation Research): This study focuses on the financial repercussions of the 9/11 attacks specifically on the airline industry and examines long-term impacts.
6. "Government Surveillance and Market Integrity: The 9/11 Aftermath" (International Journal of Law and Policy): This paper discusses the role of government surveillance in maintaining market integrity in the wake of major events.
7. "The Role of Algorithmic Trading in Detecting Market Manipulation" (Quantitative Finance): This article examines the potential of algorithmic trading techniques to identify suspicious activity in financial markets.
8. "Insider Trading and National Security: A Comparative Analysis" (Journal of International Security Affairs): This broader study compares insider trading investigations related to national security issues across different countries.
9. "Legal and Ethical Challenges in Investigating Market Manipulation" (American Law Review): This article provides a general overview of the legal and ethical frameworks surrounding investigations into market manipulation, offering context for the 9/11 case.
| 9 11 insider trading: The Hidden History of 9-11-2001 Paul Zarembka, 2006 This important volume brings together rigorous scholarship on the events of 9-11-2001, and assesses whether the truth has been told by the U.S. government. The lead chapter shows that eleven of FBI-named Arabic hijackers could not have been on the planes, while the Dulles airport videotape -- essentially being the case that hijackers boarded flights -- has very serious authentication problems. The next three chapters examine insider trading beforehand and the 9-11 flights themselves, then the evidence -- based partly upon newly-released reports of more than 500 firefighters -- permitting a conclusion that three buildings in the WTC complex were brought down by demolition, followed by discussion of scheduled military drills which confused standard operating procedures, and concluding with a surprising connection to the death of Senator Wellstone, leading critique of the Bush administration. The third part opens with a chapter examining the connection between Al-Qaeda and Western covert operations, showing how Al-Qaeda is inseparably connected to the latter. The following chapter shows that Machiavellian state terrorism is rather common and not at all unlikely for 9-11, while the following examines how the 9-11 Commission wrote its own history, rather than reporting and analyzing true history. The rise of Islamophobia as an ideological force to sustain U.S. imperialism is then introduced. The final chapter, while not explicit, offers a possible connection to the process of undermining pensions in the U.K. The volume can be seen as a definitive, scholarly explanation of 9-11 as a world-changing event. |
| 9 11 insider trading: Debunking 9/11 Myths David Dunbar, Brad Reagan, 2011-08-02 “9/11 conspiracy theorists beware: Popular Mechanics has popped your paranoid bubble world, using pointed facts and razor-sharp analysis.” —Austin Bay, national security columnist (Creators Syndicate) and coauthor of From Shield to Storm Decades after the World Trade Center disaster, rampant speculation abounds on what actually happened. Wild talk flourishes on the Internet, TV, and radio. Was the Pentagon really struck by a missile? Was the untimely death of Barry Jennings, who witnessed the collapse of Tower 7 and thought he heard “explosions,” actually an assassination? Not everyone is convinced the truth is out there. Once again, in this updated edition of the critically acclaimed Debunking 9/11 Myths, Popular Mechanics counters the conspiracy theorists with a dose of hard, cold facts. The magazine consulted more than 300 experts in fields like air traffic control, aviation, civil engineering, firefighting, and metallurgy, and then rigorously, meticulously, and scientifically analyzed the twenty-five most persistent 9/11 conspiracy theories. Each one was conclusively refuted with facts, not politics and rumors, including five new myths involving the collapse of 7 World Trade Center and four longstanding conjectures now considered in the context of new research. “A reliable and rational answer to the many fanciful conspiracy theories about 9/11 . . . What happened on 9/11 has been well established by the 9/11 Commission. What did not happen has now been clearly explained by Popular Mechanics.” —Richard A. Clarke, #1 New York Times-bestselling author of Against All Enemies “Do you have a friend who emails you the most recent documentary ‘proving’ that a missile impacted the Pentagon or that timed explosions brought down WTC-7? Buy him a copy of this book. He’ll thank you later.” —The Weekly Standard |
| 9 11 insider trading: Investment Intelligence from Insider Trading H. Nejat Seyhun, 2000-02-28 Learn how to profit from information about insider trading. The term insider trading refers to the stock transactions of the officers, directors, and large shareholders of a firm. Many investors believe that corporate insiders, informed about their firms' prospects, buy and sell their own firm's stock at favorable times, reaping significant profits. Given the extra costs and risks of an active trading strategy, the key question for stock market investors is whether the publicly available insider-trading information can help them to outperform a simple passive index fund. Basing his insights on an exhaustive data set that captures information on all reported insider trading in all publicly held firms over the past twenty-one years—over one million transactions!—H. Nejat Seyhun shows how investors can use insider information to their advantage. He documents the magnitude and duration of the stock price movements following insider trading, determinants of insiders' profits, and the risks associated with imitating insider trading. He looks at the likely performance of individual firms and of the overall stock market, and compares the value of what one can learn from insider trading with commonly used measures of value such as price-earnings ratio, book-to-market ratio, and dividend yield. |
| 9 11 insider trading: Top of the Morning Brian Stelter, 2013-04-23 CNN correspondent Brian Stelter reveals the dark side of morning television with exclusive material about current and past morning stars, from Matt Lauer to Katie Couric. When America wakes up with personable and charming hosts like Robin Roberts and George Stephanopoulos, it's hard to imagine their show bookers having to guard a guest's hotel room all night to prevent rival shows from poaching. But that is just a glimpse of the intense reality revealed in this gripping look into the most competitive time slot in television. Featuring exclusive content about all the major players of the 2000s, Top of the Morning illuminates what it takes to win the AM -- when every single viewer counts, tons of jobs are on the line, and hundreds of millions of dollars are at stake. Stelter is behind the scenes as Ann Curry replaces Meredith Vieira on the Today show, only to be fired a year later in a fiasco that made national headlines. He's backstage as Good Morning America launches an attack to dethrone Today and end the longest consecutive winning streak in morning television history. And he's there as Roberts is diagnosed with a crippling disease -- on what should be the happiest day of her career. So grab a cup of coffee, sit back, and discover the dark side of the sun. Praise for Top of the Morning Mr. Stelter pulls back the curtains and exposes a savage corporate world that might have been inhabited by the Sopranos. -- Washington Times A troubling look inside an enterprise as vicious and internecine as a soap opera. -- Kirkus Reviews |
| 9 11 insider trading: Insider Trading John P. Anderson, 2018-06-07 Explains why the current US insider trading regime is inefficient and unjust, and offers a clear path to reform. |
| 9 11 insider trading: Black Edge Sheelah Kolhatkar, 2017 The rise over the last two decades of a powerful new class of billionaire financiers marks a singular shift in the American economic and political landscape. Their vast reserves of concentrated wealth have allowed a small group of big winners to write their own rules of capitalism and public policy. How did we get here? ... Kolhatkar shows how Steve Cohen became one of the richest and most influential figures in finance--and what happened when the Justice Department put him in its crosshairs--Amazon.com. |
| 9 11 insider trading: Crimes Committed by Terrorist Groups Mark S. Hamm, 2011 This is a print on demand edition of a hard to find publication. Examines terrorists¿ involvement in a variety of crimes ranging from motor vehicle violations, immigration fraud, and mfg. illegal firearms to counterfeiting, armed bank robbery, and smuggling weapons of mass destruction. There are 3 parts: (1) Compares the criminality of internat. jihad groups with domestic right-wing groups. (2) Six case studies of crimes includes trial transcripts, official reports, previous scholarship, and interviews with law enforce. officials and former terrorists are used to explore skills that made crimes possible; or events and lack of skill that the prevented crimes. Includes brief bio. of the terrorists along with descriptions of their org., strategies, and plots. (3) Analysis of the themes in closing arguments of the transcripts in Part 2. Illus. |
| 9 11 insider trading: Research Handbook on Insider Trading Stephen M. Bainbridge, 2013-01-01 In most capital markets, insider trading is the most common violation of securities law. It is also the most well known, inspiring countless movie plots and attracting scholars with a broad range of backgrounds and interests, from pure legal doctrine to empirical analysis to complex economic theory. This volume brings together original cutting-edge research in these and other areas written by leading experts in insider trading law and economics. The Handbook begins with a section devoted to legal issues surrounding the USÕs ban on insider trading, which is one of the oldest and most energetically enforced in the world. Using this section as a foundation, contributors go on to discuss several specific court cases as well as important developments in empirical research on the subject. The Handbook concludes with a section devoted to international perspectives, providing insight into insider trading laws in China, Japan, Australia, New Zealand, the United Kingdom and the European Union. This timely and comprehensive volume will appeal to students and professors of law and economics, as well as scholars, researchers and practitioners with an interest in insider trading. |
| 9 11 insider trading: Profit from Legal Insider Trading Jonathan Moreland, 2000 Insider expert Jonathan Moreland tells readers exactly what insider information is, where to find it, and how to use it. In these pages, he covers how to analyze insider purchases and sales; the difference between legal and illegal insider trading; special screens of insider data for use with specific investment approaches; and where to find the cheapest and best insider data. |
| 9 11 insider trading: Insider Trading William K. S. Wang, Marc I. Steinberg, 2005 A guide to avoiding insider trading liability. It gives you the legal knowledge and practical tools you need to determine what's legal, what's not, and what you can do to minimise liability exposure. |
| 9 11 insider trading: Against All Enemies Richard A. Clarke, 2008-12-09 Richard Clarke has been one of America's foremost experts on counterterrorism measures for more than two decades. He has served under four presidents from both parties, beginning in Ronald Reagan's State Department becoming America's first Counter-terrorism Czar under Bill Clinton and remaining for the first two years of George W. Bush's administration. He has seen every piece of intelligence on Al-Qaeda from the beginning; he was in the Situation Room on September 11th and he knows exactly what has taken place under the United State's new Department of Homeland Security. Through gripping, thriller-like scenes, he tells the full story for the first time and explains what the Bush Administration are doing. |
| 9 11 insider trading: Trade Stocks and Commodities with the Insiders Larry Williams, 2011-01-19 The way that Big Money got to be Big Money was by also being the 'Smart Money', and so it is worth paying attention to how the Big Money traders behave. That's the essence of what Larry Williams has to teach us in this book. And it's not just what the Smart Money says or thinks, but how they behave in terms of their trading that we should pay attention to. Larry shows us how to listen to that message. —Tom McClellan, Editor of The McClellan Market Report Finally, an insider's take on what really goes on behind the scenes in commodity trading. Larry writes his view of trading, as only he knows it, from his twenty-five years of experience. —James Altucher, author of Trade Like a Hedge Fund Successful trader Larry Williams reveals industry secrets that help investors and traders successfully invest and trade side-by-side with the largest commercial interests in the world. You'll be introduced to the COT (Commitment of Traders) report, the best resource for achieving trading success, learn exactly what the information it contains means, and plan for maximizing profits by acting on reported actions. |
| 9 11 insider trading: United States Attorneys' Manual United States. Department of Justice, 1985 |
| 9 11 insider trading: Top Secret America Dana Priest, William M. Arkin, 2011-09-06 The top-secret world that the government created in response to the 9/11 terrorist attacks has become so enormous, so unwieldy, and so secretive that no one knows how much money it costs, how many people it employs or exactly how many agencies duplicate work being done elsewhere. The result is that the system put in place to keep the United States safe may be putting us in greater danger. In Top Secret America, award-winning reporters Dana Priest and William Arkin uncover the enormous size, shape, mission, and consequences of this invisible universe of over 1,300 government facilities in every state in America; nearly 2,000 outside companies used as contractors; and more than 850,000 people granted Top Secret security clearance. A landmark exposé of a new, secret Fourth Branch of American government, Top Secret America is a tour de force of investigative reporting-and a book sure to spark national and international alarm. |
| 9 11 insider trading: Crossing the Rubicon Michael C. Ruppert, 2004-09-15 The acclaimed investigative reporter and author of Confronting Collapse examines the global forces that led to 9/11 in this provocative exposé. The attacks of September 11, 2001 were accomplished through an amazing orchestration of logistics and personnel. Crossing the Rubicon examines how such a conspiracy was possible through an interdisciplinary analysis of petroleum, geopolitics, narco-traffic, intelligence and militarism—without which 9/11 cannot be understood. In reality, 9/11 and the resulting War on Terror are parts of a massive authoritarian response to an emerging economic crisis of unprecedented scale. Peak Oil—the beginning of the end for our industrial civilization—is driving the elites of American power to implement unthinkably draconian measures of repression, warfare and population control. Crossing the Rubicon is more than a story of corruption and greed. It is a map of the perilous terrain through which we are all now making our way. |
| 9 11 insider trading: Insider Trading Sanctions Act of 1984 United States, 1984 |
| 9 11 insider trading: Throw Them All Out Peter Schweizer, 2011 Schweizer, a research fellow at the Hoover Institution at Stanford University, discusses the state of government and the depths of its political corruption. |
| 9 11 insider trading: How Rewarding is Technical Analysis? Wing-Keung Wong, Meher Manzur, Boon-Kiat Chew, 2001 |
| 9 11 insider trading: The Terror Factory Trevor Aaronson, 2014-10-21 A groundbreaking work of investigative journalism, The Terror Factory shows how the FBI has - under the guise of engaging in counterterrorism since 9/11 - built a network of informants whose primary purpose is to infiltrate Muslim communities to create phony terrorist plots so the bureau can claim victory in the War on Terror. Now Aaronson reveals in detail how the FBI transformed from a reactive law enforcement agency into a proactive counterterrorism unit, and how so-called terror consultants have made fortunes by exaggerating the threat of Islamic terror in the US. |
| 9 11 insider trading: Disruption Aki Peritz, 2021-12 Disruption tells the story of the conspiracy to simultaneously destroy several passenger jets over the Atlantic Ocean in 2006 and the desperate efforts by the British, Americans, and Pakistanis to crush the conspiracy before the bombs went off in the largest counterterrorism investigation in history. |
| 9 11 insider trading: Going Mobile Darrell M. West, 2014-12-12 The world is going mobile at an astounding pace. Estimates show 80 percent of global Internet access will take place through mobile devices by 2016. Smartphones, tablets, and handheld devices have reshaped communications, the global economy, and the very way in which we live. The revolution is an electronic nirvana: for the first time in human history we have sophisticated digital applications to help us learn, access financial and health care records, connect with others, and build businesses. But the one trillion dollar mobile industry is still relatively young. Leaders in both the public and private sectors need to figure out how to apply mobile technologies or mobile devices to optimize education, health care, public safety, disaster preparedness, and economic development. And the ever-expanding mobile frontier presents new challenges to law, policy, and regulations and introduces new tensions; one person's idea of cautious deliberation can be another's idea of a barrier to innovation. In Going Mobile, Darrell M. West breaks down the mobile revolution and shows how to maximize its overall benefits in both developed and emerging markets. Contents 1. The Emergence of Mobile Technology 2. Driving Global Entrepreneurship 3. Alleviating Poverty 4. Invention and the Mobile Economy 5. Mobile Learning 6. Improving Health Care 7. Medical Devices and Sensors 8. Shaping Campaigns and Public Outreach 9. Disaster Relief and Public Safety 10. Looking Ahead |
| 9 11 insider trading: The Bush Crime Family Roger Stone, Saint John Hunt, 2017-04-11 This book is very tough. - President Donald Trump The Bush Crime Family smashes through the layers of lies and secrecy that have surrounded and protected our country’s most successful political dynasty for nearly two centuries. New York Times bestselling author Roger Stone lashes out with a blistering indictment, exposing the true history and monumental hypocrisy of the Bushes. In Stone’s usual “go for the jugular” style, this is a no-holds-barred history of the Bush family, comprised of smug, entitled autocrats who both use and hide behind their famous name. They got a long-overdue taste of defeat and public humiliation when Jeb’s 2016 presidential bid went down in flames. Besides detailing the vast litany of Jeb’s misdeeds — including receiving a $4 million taxpayer bailout when his father was vice president as well as his startlingly-close alignment with supposed “enemy” Hillary Clinton — Stone travels back to Bush patriarchs Samuel and Prescott, right on through to presidents George H. W. and George W. Bush to weave an epic story of privilege, greed, corruption, drug profiteering, assassination, and lies. A new preface to this paperback edition features explosive information, including the family’s Machiavellian plan to propel Jeb’s son George Prescott Bush forward as the family’s next political contender. The Bush Crime Family will have readers asking, “Why aren’t these people in prison?” |
| 9 11 insider trading: The New Pearl Harbor David Ray Griffin, 2007 Gathering stories from the American press, from the work of other researchers and the words of members of the Bush administration, David Ray Griffin brings together an account of the 9/11 tragedy and presents a case with so many unanswered questions over what happened on September 11 2001. |
| 9 11 insider trading: Does Insider Trading Raise Market Volatility? Mr.Julan Du, Shang-Jin Wei, 2003-03-01 This paper studies the role of insider trading in explaining cross-country differences in stock market volatility. The central finding is that countries with more prevalent insider trading have more volatile stock markets, even after one controls for liquidity/maturity of the market and the volatility of the underlying fundamentals (volatility of real output and of monetary and fiscal policies). Moreover, the effect of insider trading is quantitively significant when compared with the effect of economic fundamentals. |
| 9 11 insider trading: Insider Trading and the Stock Market Henry G. Manne, 1966 |
| 9 11 insider trading: Circle of Friends Charles Gasparino, 2013-07-02 The bestselling author of The Sellout tells the explosive story of the government’s crackdown on insider-trading networks—an investigation that has already racked up more than 60 convictions. In Circle of Friends, award-winning journalist Charles Gasparino—one of Wall Street's most knowledgeable observers—follows government investigators and prosecutors as they pursue one of the most aggressive and broad-reaching series of insider-trading cases in the nation's history. A richly textured page-turner of investigative journalism based on extensive reporting, Circle of Friends chronicles the massive federal crackdown that has already put some of the biggest names on Wall Street behind bars, including Raj Rajaratnam, founder of the Galleon Group, and Rajat Gupta, a former CEO of consulting giant McKinsey & Co. Other similarly sized targets are still waiting nervously, including the biggest one of them all—financial impresario Steve Cohen of SAC Capital, the giant hedge fund that has confounded regulators for years by cranking out a steady stream of market-busting returns. Gasparino goes behind the headlines to reveal how the government makes its case, using every tool at its disposal—and at great expense to taxpayers—to supposedly make the investing world safer for average Americans. Gasparino asks why federal officials are so eager to prosecute these cases: What is the real damage to individuals? Do average investors really care? He explores why insider trading is all the rage these days when the U.S. government has failed to bring a single criminal case against the culprits who caused the 2008 financial crisis. Circle of Friends is not a defense of insider trading, but it does offer an account of the politics of Wall Street crime fighting, revealing the behind-the-scenes ambitions that motivate headlines and burnish political careers. A riveting work of narrative nonfiction, as engrossing and explosive as fictional thrillers of the finest magnitude, Circle of Friends is a wakeup call to the investing public. |
| 9 11 insider trading: Den of Thieves James B. Stewart, 2012-11-20 A #1 bestseller from coast to coast, Den of Thieves tells the full story of the insider-trading scandal that nearly destroyed Wall Street, the men who pulled it off, and the chase that finally brought them to justice. Pulitzer Prize–winner James B. Stewart shows for the first time how four of the eighties’ biggest names on Wall Street—Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine—created the greatest insider-trading ring in financial history and almost walked away with billions, until a team of downtrodden detectives triumphed over some of America’s most expensive lawyers to bring this powerful quartet to justice. Based on secret grand jury transcripts, interviews, and actual trading records, and containing explosive new revelations about Michael Milken and Ivan Boesky, Den of Thieves weaves all the facts into an unforgettable narrative—a portrait of human nature, big business, and crime of unparalleled proportions. |
| 9 11 insider trading: Debunking 9/11 Debunking David Ray Griffin, 2007 Attempts to refute the offical explanation of the September 11th terrorist attack, critiquing the evidence that has been presented in the mainstream media and arguing for a conspiracy theory that the American government was behind the attack. |
| 9 11 insider trading: Black 9/11 Mark Gaffney, 2016-09-01 The weeks following the attacks of September 11, 2001, were traumatic for nearly every American, but for some, the answers they received from the media and the government to explain the horrific events was not satisfactory. Accusations of cover-ups, internal plots, and sabotage from within the ranks of the U.S. government were—and continue to be—not uncommon. But compelling evidence contrary to the accepted narrative has, for some skeptics, been lacking. This investigation into the events of that day reveals dark secrets about United States–sponsored terrorism. Taking highly complex technical and scientific information, and distilling it for the consumption of the lay person, this inquiry attempts to reveal the truth behind that infamous day. |
| 9 11 insider trading: The Regulation of Insider Trading Barry Alexander K. Rider, H. Leigh Ffrench, 1979 |
| 9 11 insider trading: Countering the New Terrorism Ian Lesser, John Arquilla, Bruce Hoffman, David F. Ronfeldt, Michele Zanini, 1999-04-20 Traces the recent evolution of international terrorism against civilian and U.S. military targets, looks ahead to where terrorism is going, and assesses how it might be contained. The authors consider the threat of information-based terrorism and of weapons of mass destruction, with an emphasis on how changes in the sources and nature of terrorism may affect the use of unconventional terror. The authors propose counterterrorism strategies that address the growing problem of homeland defense. |
| 9 11 insider trading: The Hidden History of 9/11 Paul Zarembka, 2011-01-04 How much insider trading occurred in the days leading up to 9-11? How compromised is the evidence against alleged hijackers? Why were there no military interceptions? To what extent does the testimony of more than five hundred firefighters differ from official reports of what happened at the World Trade Center buildings that day? How inseparably connected are Western covert operations to al-Qaeda? How is Islamophobia used to sustain US imperialism? What was the 9-11 Commission? With contributions from Nafeez Mosaddeq Ahmed, Four Arrows, David Ray Griffin, Jay Kolar, David MacGregor, Diana Ralph, Kevin Ryan, and Bryan Sacks, this path-breaking work examines 9-11 and its background, showing how much remains unknown and where further investigation and debate is needed. |
| 9 11 insider trading: SEC Compliance and Enforcement Answer Book 2015 David M. Stuart, 2015-08-07 SEC Compliance and Enforcement Answer Book 2015 answers hundreds of real-world questions related to the nuances of unique SEC Enforcement procedure, and provides sophisticated insight on the complex and extensive body of federal securities laws. Edited by David M. Stuart (Cravath, Swaine and Moore LLP), this expert Q&A guide compiles the perspectives of leading practitioners from around the country who have previously served in the SEC Enforcement Division, many of whom were in some of the most senior positions in the Division. Leveraging the authors' experience and expertise, SEC Compliance and Enforcement Answer Book 2015 provides nuts and bolts guidance on: - Conducting an effective internal investigation - while the SEC is simultaneously investigating - Responding to SEC requests and subpoenas for documents, interviews, and testimony - Cooperating effectively with SEC staff - The Wells process, negotiating resolutions, and litigating with the SEC - The complexities that arise when criminal and international law enforcement authorities becomes involved in an SEC investigation Additionally, SEC Compliance and Enforcement Answer Book 2015 answers questions on insider trading, accounting and securities fraud, market manipulation and foreign corruption. The Q&A guide also tackles special issues related to investigations of attorneys, accountants, and those identified by whistleblowers. |
| 9 11 insider trading: Watching the World Change David Friend, 2011-08-02 Relates the stories behind the photographs of 9/11, discusses the controversy over whether the images are exploitative or redemptive, and shows how photographs help us witness, grieve, and understand the unimaginable. |
| 9 11 insider trading: Fleshing Out Skull & Bones Kris Millegan, 2004-10-01 This chronicle of espionage, drug smuggling, and elitism in Yale University's Skull & Bones society offers rare glimpses into this secret world with previously unpublished documents, photographs, and articles that delve into issues such as racism, financial ties to the Nazi party, and illegal corporate dealings. Contributors include Anthony Sutton, author of America's Secret Establishment; Dr. Ralph Bunch, professor emeritus of political science at Portland State University; Webster Griffin Tarpley and Anton Chaitkin, authors and historians. A complete list of members, including George Bush, George W. Bush, and John F. Kerry, and reprints of rare magazine articles are included. |
| 9 11 insider trading: The 9/11 Commission Report United States. Congress. House. Committee on Financial Services, 2004 |
| 9 11 insider trading: The 9/11 Toronto Report James Gourley, 2012 Over the four days of the Toronto Hearings, noted authors and scientific experts presented the best evidence gathered in the previous decade that refutes the official account of 9/11 to a panel of distinguished individuals whose opinion on the strength of the evidence should carry considerable weight in the public sphere--p. 4 of cover. |
| 9 11 insider trading: On a Wing and a Prayer Kushal M. Choksi, 2021-09-11 What would you do if your life turned upside down overnight? Witnessing the devastation of 9/11 before his eyes and narrowly escaping death, Kushal's life was never going to be the same again. Suddenly, all his pursuits felt meaningless and he felt a void within him like he had never felt before-until one day, when he reluctantly decided to spend an afternoon with a spiritual master in New York City. From being a Wall Street trader immersed in the material world to embarking on a quest to find answers to life's biggest questions, Kushal Choksi writes about his doubts, struggles and revelations on a spiritual path as a left-brained sceptic. On a Wing and a Prayer is one such (true) account of one man finding himself on a fifteen-year long journey shadowing the spiritual leader Gurudev Sri Sri Ravi Shankar. |
| 9 11 insider trading: Insider Trading Law and Policy Stephen M. Bainbridge, 2014 Softbound - New, softbound print book. |
| 9 11 insider trading: The Only Plane in the Sky Garrett M. Graff, 2019-09-10 NEW YORK TIMES BESTSELLER “This is history at its most immediate and moving…A marvelous and memorable book.” —Jon Meacham “Remarkable…A priceless civic gift…On page after page, a reader will encounter words that startle, or make him angry, or heartbroken.” —The Wall Street Journal “Had me turning each page with my heart in my throat…There’s been a lot written about 9/11, but nothing like this. I urge you to read it.” —Katie Couric The first comprehensive oral history of September 11, 2001—a panoramic narrative woven from voices on the front lines of an unprecedented national trauma. Over the past eighteen years, monumental literature has been published about 9/11, from Lawrence Wright’s The Looming Tower to The 9/11 Commission Report. But one perspective has been missing up to this point—a 360-degree account of the day told through firsthand. Now, in The Only Plane in the Sky, Garrett Graff tells the story of the day as it was lived—in the words of those who lived it. Drawing on never-before-published transcripts, declassified documents, original interviews, and oral histories from nearly five hundred government officials, first responders, witnesses, survivors, friends, and family members, he paints the most vivid and human portrait of the September 11 attacks yet. Beginning in the predawn hours of airports in the Northeast, we meet the ticket agents who unknowingly usher terrorists onto their flights, and the flight attendants inside the hijacked planes. In New York, first responders confront a scene of unimaginable horror at the Twin Towers. From a secret bunker under the White House, officials watch for incoming planes on radar. Aboard unarmed fighter jets in the air, pilots make a pact to fly into a hijacked airliner if necessary to bring it down. In the skies above Pennsylvania, civilians aboard United 93 make the ultimate sacrifice in their place. Then, as the day moves forward and flights are grounded nationwide, Air Force One circles the country alone, its passengers isolated and afraid. More than simply a collection of eyewitness testimonies, The Only Plane in the Sky is the historic narrative of how ordinary people grappled with extraordinary events in real time: the father and son caught on different ends of the impact zone; the firefighter searching for his wife who works at the World Trade Center; the operator of in-flight telephone calls who promises to share a passenger’s last words with his family; the beloved FDNY chaplain who bravely performs last rites for the dying, losing his own life when the Towers collapse; and the generals at the Pentagon who break down and weep when they are barred from trying to rescue their colleagues. At once a powerful tribute to the courage of everyday Americans and an essential addition to the literature of 9/11, The Only Plane in the Sky weaves together the unforgettable personal experiences of the men and women who found themselves caught at the center of an unprecedented human drama. The result is a unique, profound, and searing exploration of humanity on a day that changed the course of history, and all of our lives. |
9 (2009) - IMDb
9: Directed by Shane Acker. With Christopher Plummer, Martin Landau, John C. Reilly, Crispin Glover. A rag doll that awakens in a postapocalyptic future holds the key to humanity's salvation.
9 - Wikipedia
9 (nine) is the natural number following 8 and preceding 10. Circa 300 BC, as part of the Brahmi numerals, various Indians wrote a digit 9 similar in shape to the modern closing question mark …
9GAG - Best Funny Memes and Breaking News
We deliver hundreds of new memes daily and much more humor anywhere you go.
9 streaming: where to watch movie online? - JustWatch
Find out how and where to watch "9" online on Netflix, Prime Video, and Disney+ today – including 4K and free options.
9 (2009 film) | 9 Wiki | Fandom
9 is a 2009 American computer-animated science fiction film directed by Shane Acker, and produced by Tim Burton and Timur Bekmambetov. The film stars Elijah Wood, John C. Reilly, …
9 (number) - Simple English Wikipedia, the free encyclopedia
9 (nine) is the Arabic number which comes after 8 and before 10. It is an odd number, and is the highest single-digit number. It is also a square number. In Roman numerals, nine can be …
9 - Rotten Tomatoes
When 9 (Elijah Wood) springs to life, it finds itself in a post-apocalyptic world where humans no longer exist, and the only signs of life are sentient rag dolls like itself and the...
Watch 9 | Prime Video - amazon.com
When 9 first comes to life, he finds himself in a post-apocalyptic world where humans are gone. He discovers a small community of others like him taking refuge from fearsome machines that …
9 (number) - New World Encyclopedia
9 (nine) is a number, numeral, and glyph that represents the number. It is the natural number [1] that follows 8 and precedes 10. It is an integer and a cardinal number, that is, a number that is …
9 (2009) — The Movie Database (TMDB)
Sep 9, 2009 · When 9 first comes to life, he finds himself in a post-apocalyptic world. All humans are gone, and it is only by chance that he discovers a small community of others like him …
9 (2009) - IMDb
9: Directed by Shane Acker. With Christopher Plummer, Martin Landau, John C. Reilly, Crispin Glover. A rag doll that awakens in a postapocalyptic future holds the key to humanity's …
9 - Wikipedia
9 (nine) is the natural number following 8 and preceding 10. Circa 300 BC, as part of the Brahmi numerals, various Indians wrote a digit 9 similar in shape to the modern closing question mark …
9GAG - Best Funny Memes and Breaking News
We deliver hundreds of new memes daily and much more humor anywhere you go.
9 streaming: where to watch movie online? - JustWatch
Find out how and where to watch "9" online on Netflix, Prime Video, and Disney+ today – including 4K and …
9 (2009 film) | 9 Wiki | Fandom
9 is a 2009 American computer-animated science fiction film directed by Shane Acker, and produced by Tim Burton and Timur Bekmambetov. The film stars Elijah Wood, John C. Reilly, …
