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DrDebug Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jun-24-06 06:15 AM
Response to Reply #20
57. How to make a buck off 9/11 + Marsh pre-9/11 inside trading
Edited on Sat Jun-24-06 06:26 AM by DrDebug

Marsh was one of the pre-9/11 inside traders

Marsh & McLennan Cos., the biggest insurance brokerage, which had 1,700 employees working in the World Trade Center. Traders on Sept. 10 exchanged 1,209 contracts on options that profit if company shares fall below $90 through the third week of September. Previously, 13 contracts had traded on an average day. Marsh & McLennan shares fell $2.50 today to $84.50.

Canadian securities officials said yesterday that the U.S. Securities and Exchange Commission has asked North American investment firms to review their records for evidence of unusual trading activity in securities affected by the Sept. 11 terrorist attacks. The Investment Dealers Association of Canada told its 190 members that the SEC has identified 38 companies -- including the parent firms of United and American airlines, which lost four aircraft -- whose shares were traded at abnormally high levels in the weeks prior to the attacks, suggesting that buyers and sellers had advance knowledge of planned terrorist acts.

The SEC equities list named several big companies that were tenants in the collapsed buildings in the heart of New York's financial district: investment firms Morgan Stanley, the towers' biggest occupant; Lehman Bros.; Bank of America; and financial firm Marsh & McLennan.

November 1, 2004
The Secret World Of Marsh Mac
By Marcia Vickers

After Andrew

Still, just days after September 11, Greenberg and top MMC execs met to figure out how to profit from the disaster. They formed a subsidiary -- Axis Specialty Ltd. -- to sell insurance to corporate customers at three or four times the rates before September 11...

For some industry players the move recalled what Greenberg did in 1992 after Hurricane Andrew slammed into South Florida and wiped out some $15 billion worth of property. Jeff, who was working for dad at AIG, sent out an internal memo stating: "This is an opportunity to get price increases now."

How Paul Bremer profited from 911
by jail kissinger Tuesday April 06, 2004 at 12:27 PM

Paul Bremer was hired by an insurance company that had hundreds of employees die in the world trade center, to reap maximum profits for antiterrorist insurance

Insurance Industry Stands to Benefit from Changes Wrought by Sept. 11

By Christopher Oster, The Wall Street Journal

For Marsh & McLennan Cos., the Sept. 11 attacks have meant two very different things.

But in the days after the attacks, even as the company was sorting out who was safe and who had perished, it quickly became clear that Sept. 11 presented a tremendous business opportunity for Marsh and other strong players in the industry.

Within days of the twin towers' destruction, Mr. Greenberg and top lieutenants began planning to form a new subsidiary to sell insurance to corporate customers at sharply higher rates than were common before Sept. 11. Marsh also accelerated plans to launch a new consulting unit to capitalize on heightened corporate fears of terrorism. Vice Chairman Charles A. Davis says the company is merely meeting new marketplace demands. "There's a financial reward for doing that," he says.

Modest Disruption

From a business perspective, the disaster caused only modest disruption for Marsh, which has 57,000 employees worldwide. On the evening of Sept. 11, Mr. Davis, Marsh's vice chairman and chief of its MMC Capital arm, sent a fax to Mr. Greenberg's home that accounted for the unit's employees - they were all safe - and suggested the formation of a new subsidiary that would underwrite corporate policies.

On Oct. 11, Marsh announced the formation of a new consulting unit, with Mr. Bremer at its head. Two weeks later, Marsh unveiled a partnership between its new unit and Versar Inc., a counterterrorism-service provider. The partnership will assess chemical and bioterrorism risks for corporate clients

Part II -- Billions in Pre-911 Insider Trading Profits Leaves a Hot Trail: How Bush Administration Naysayers May Have Let it go Cold

by Kyle F. Hence

Below are a few standouts on the SEC list <' *' indicates a WTC tenant; (-x) represents the multiple over average volume>: Airlines: UAL (285x), AMR (60x) Insurance sector: Marsh & McLennan (93x)*, Citigroup (45x), Swiss Re, XL Capital Brokers: Bear Stearns (60x), Morgan Stanley (27x)*, Merrill Lynch (12x)

Analysts also noted that though the insurance sector was one of the strongest in a depressed stock market, there were huge spikes in put options in Marsh & McLennan and in Citigroup. Marsh & McLennan, the biggest insurance broker, was a World Trade Center tenant with 1,700 employees. It also saw, next to UAL, the highest spike in put options; thus you have a confluence of facts that, in the minds of many experienced traders and experts, amounts to unequivocal evidence of foul play. Clearly traders placed bets based on sure-fire insider prior knowledge. The odds against this happening randomly or coincidentally are astronomical; probably incalculable.

The Case for Bush Administration Advance Knowledge of 9-11 Attacks
by Michael C. Ruppert
COPYRIGHT 2002, Michael C. Ruppert and FTW Publications, all rights reserved. May be reprinted or distributed for non-profit purposes only.]

The documented pre-Sept. 11 insider trading that occurred before the attacks involved only companies hit hard by the attacks. They include United Airlines, American Airlines, Morgan Stanley, Merrill-Lynch, Axa Reinsurance, Marsh & McLennan, Munich Reinsurance, Swiss Reinsurance, and Citigroup.

"I saw put-call numbers higher than I've ever seen in 10 years of following the markets, particularly the options markets,' said John Kinnucan, principal of Broadband Research, as quoted in the San Francisco Chronicle,"

'it's absolutely unprecedented to see cases of insider trading covering the entire world from Japan, to the U.S., to North America, to Europe."

There were many vultures who knew!
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