Bin Laden Profited From Act of Evil

NBC News | 9/15/01 | Andrea Mitchell

[Diogenez]

Osama Bin Laden may have reaped millions of dollars as a result of his own evil. German Securities Market Regulators believe that Bin Laden interests may be behind huge short sales of American Re-Insurance Companies shortly before the attack on America. This is according to Andrea Mitchell, NBC, at appx. 9:30 EDT.

[Diogenez]

It's a clear way to tie him to the Attack if true.

[Cleburne]

It can't be true. All terrorists are poor street children starving because of evil American capitalists and their horrid military. < sarcasm >

[Polybius]

German Securities Market Regulators believe that Bin Laden interests may be behind huge short sales of American Re-Insurance Companies shortly before the attack on America.

If Securities Regulators can identify which of these front companies initiated these huge short sales, that can be a step in identifying and seizing bin Laden's financial assets.

[anniegetyourgun]

OPERATION NOBLE EAGLE = ONE

[Kerensky]

Bin Laden needs to make payments on his nuclear bomb collection.

[tbeatty]

Freeze the price artificially high so that they have to buy it back at a loss.

[neutrino]

that can be a step in identifying and seizing bin Laden's financial assets.

Exactly. Grab his money - all of it. That will slow him, and damage him greatly. We can do it to dope dealers, and I firmly believe we can do it to him.

[research99]

This actually makes perfect sense -- Bin Laden, child of the rich, uses dogma to recruit suicide-bombers, but actually sets it up so he profits in the end.

[Hildy]

Objectively speaking, the guy is brilliant.

[Praxeologue]

This is insider trading. How do regulators handle this when the contract has yet to close?

[Betteboop]

please, for the sake of one who doesn't understand the market, explain what he did and how it works.

[dodger]

Basically, a 'short' is a bet that a given stock will drop within a time certain.

[dodger]

That is, OBL says "I'll bet stock in companies that insure the WTC will drop after diabolical scheme to destroy it ..."

[Anonymous2]

the reverse of a 'pump and dump' scheme. much more deadly way to profit from the market. don't recommend it.

[Praxeologue]

He sold shares he didn't own. To close, he will have to buy the shares in the open market and deliver them to the buyer. The math, for example would be that he sold shares for, say $10 and next week will go in to the market and buy them for $8 and deliver them to last week's buyer, pocketing $2 before commissions.

[Diogenez]

A short sale is a type of a bet that the price of a stock will go down. If and when it does, the short seller makes a profit. It involves an initial trade (say 100 shares) that is merely a bookeeping entry with a broker. Later, the seller instructs the broker to buy the stock (the 100 shares) in the open market to cover his short sale position.

[JeepInMazar]

It can't be true. All terrorists are poor street children starving because of evil American capitalists and their horrid military. < sarcasm >

bump

[Diogenez]

More important, it would tie him to the Attack.

[nkycincinnatikid]

Jesus Saves, Moses Invests, Mohamed Sells Short.. OK now I get it.

[Praxeologue]

The regulators should require the short seller(s) to disclose the beneficial owner before permitting the contract to close. I am sure they can find a legal authority to require that.

If they want their profit, they need to sell out their patron.