"We have not developed any evidence suggesting that those who had
advance knowledge of the September 11 attacks traded on the basis of
that infonnation. In every instance where we noticed unusual trading
before the attack, we were able to determine -- either through direct
communication with those responsible for the trading or a review of
trading records -- that the trading was consistent with a legitimate trading
strategy. " 9-11 SEC Report: Pre-September 11, 2001 Trading Review
http://www.paperlessarchives.com/FreeTitles/9-11SECReport.pdf
note, EITHER through direct communication OR a review of trading
records.
when one is clever, and such people would be, they can lie real good
(so direct communication is worthless), and they can rig their patterns
to accomplish what they did without looking too bad.
Further, a trading pattern that predated by more than a few days, would
be consistent with such protective efforts, and also would be consistent
with advance knowledge, since one can put such trade orders in much
earlier, and any such after would simply take advantage of continued
loss of share value.
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