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Dick the Bruiser
09-15-2001, 06:09 PM
From DRUDGE Report:

Sept. 15 — The Italian newspaper Corriere della Serra reported Saturday that associates of Islamic fanatic Osama bin Laden might have used short-selling to make a profit on Tuesday’s terror bombing. The newspaper said the FBI is looking into possible short-selling of the stocks of reinsurance companies in the four trading days before the terrorist attacks on the United States on Tuesday. Short-selling can produce huge profits when a stock plummets because of bad news.

Anonymous
09-15-2001, 06:47 PM
Never thought of that. We're hoping the FBI or the local police will catch these guys, but it'll probably be the SEC!

E. Blackadder
09-16-2001, 12:57 AM
Good thing they didn't know about options!

Anonymous
09-16-2001, 11:25 AM
EB, they're not that stupid.

A huge profit from investing in the options of a few companies gets an SEC investigation each time. Here's a common example, guy gets a tip, invests all his savings (say 100k) in a company's options, makes $3 million and about a year later he's in jail.

Options profits are carefully tracked by the SEC.

E. Blackadder
09-16-2001, 11:56 AM
That'll strike real terror into their black hearts! :smile:

I should have realized that.