AA/UA put options

https://i.redditmedia.com/vUQp52jXc8JLamQVZLMLbzPhXszmIzvHE0tF0QFJ5e4.png?s=b12a7db449a9a0c62227d6ffe306c4aa




According to Phil Erlanger, a former Senior Technical Analyst with Fidelity , and founder of a Florida firm that tracks short selling and options trading, insiders made off with billions (not mere millions) in profits by betting on the fall of stocks they knew would tumble in the aftermath of the WTC and Pentagon attacks. [http://www.erlangersqueezeplay.com ]

"The four highest-volume suspect stocks — UAL, Marsh, AMR and Citigroup — were closely linked to the attacks of 9/11.The two airline companies each had two planes hijacked and destroyed.  Marsh was located in the exact 8 floors out of 110 in the north tower of the WTC where Flight 11 impacted and the fires occurred.  Citigroup was the parent of Travelers Insurance, which was expected to see $500 million in claims, and also Salomon Smith Barney, which occupied all but ten floors in World Trade Center (WTC) building 7.  Oddly enough, Salomon Smith Barney had both Donald Rumsfeld and Dick Cheney on its advisory board until January 2001."

"Further details of the futures trades that netted such huge gains in the wake of the hijackings have been disclosed. To the embarrassment of investigators, it has also emerged that the firm used to buy many of the "put" options – where a trader, in effect, bets on a share price fall – on United Airlines stock was headed until 1998 by "Buzzy" Krongard, now executive director of the CIA.

Until 1997, Mr Krongard was chairman of Alex Brown Inc, America's oldest investment banking firm. Alex Brown was acquired by Bankers Trust, which in turn was bought by Deutsche Bank. His last post before resigning to take his senior role in the CIA was to head Bankers Trust – Alex Brown's private client business, dealing with the accounts and investments of wealthy customers around the world."

http://911review.org/Wget/news.independent.co.uk/insider.html
http://911research.wtc7.net/sept11/stockputs.html

The initial options were bought through at least two brokerage firms, including NFS, a subsidiary of Fidelity Investments, and TD Waterhouse. It was estimated that the trader or traders would have realized a five million dollar profit.^[72]

https://en.wikipedia.org/wiki/9/11_conspiracy_theories#Suspected_insider_trading

^{"Sources tell CBS News that the afternoon before the attack, alarm bells were sounding over unusual trading in the U.S. stock options market.}An extraordinary number of trades were betting that American Airlines stock price would fall.

The trades are called "puts" and they involved at least 450,000 shares of American. But what raised the red flag is more than 80 percent of the orders were "puts", far outnumbering "call" options, those betting the stock would rise.

Sources say they have never seen that kind of imbalance before, reports CBS News Correspondent Sharyl Attkisson. Normally the numbers are fairly even.

After the terrorist attacks, American Airline stock price did fall obviously by 39 percent, and according to sources, that translated into well over $5 million total profit for the person or persons who bet the stock would fall.

Sources tell 60 Minutes that the initial options were bought through at least two brokerage firms including NFS, a subsidiary of Fidelity Brokerage, and TD Waterhouse, a discount firm."

 https://www.cbsnews.com/news/profiting-from-disaster/
https://www.sfgate.com/business/article/SEC-wants-data-sharing-system-Network-of-2866659.php

Explosive Secrets of Covert CIA Companies

"Russbacher gave me the names of many financial institutions that he said were CIA proprietaries. He described in great detail his role in Red Hill Savings & Loan and Hill Financial in Red Hill, Pennsylvania. He named other CIA proprietary financial institutions, including National Brokerage Companies; National Fiduciary Trust Company; National Financial Services; Crystal Shores Development; and Clayton Financial Planning, which had several divisions, including Agean Lines and Europa Link. Europa Link allegedly owned W.P.R. Petroleum International, which used leased oil tankers for oil delivery to major refineries.

https://www.linkedin.com/pulse/20140829211445-29817943-earlier-savings-and-loan-financial-frauds-upon-the-american-public

CIA Proprietaries, CIA Infiltrated or Influenced Organizations, and CIA Contractors
- Fidelity Reporting Service (covert background checks on Americans): Jim Hougan, Spooks


Gates began his career serving as an officer in the United States Air Force but was quickly recruited by the CIA.^[2] Gates served for 26 years in the Central Intelligence Agency and the National Security Council, and was Director of Central Intelligence under President George H. W. Bush. 
https://en.wikipedia.org/wiki/Robert_Gates
https://en.wikipedia.org/wiki/Robert_Gates#Career_after_leaving_the_CIA
https://en.wikipedia.org/wiki/Robert_Gates#Corporate_boards

Gates, a former director of the U.S. Central Intelligence Agency, has been a Fidelity fund director since 1997. He took over as lead director in January. Fidelity is the world’s largest mutual fund company with more than $1.3 trillion in assets.

https://www.reuters.com/article/us-financial-fidelity-gates-idUSN1010505520061110

https://www.bizjournals.com/boston/stories/2005/12/19/daily39.html

http://articles.latimes.com/1991-07-17/news/mn-2277_1_gates-nomination

Robert Gates Discusses Prior Warnings Of Past Attacks And Gadaffi Response To 9/11

FMR Corp. will bank millions of dollars and its risk management staff will save considerable time under two multiyear integrated risk programs that Judy Lindenmayer has fashioned for the company.
And, if FMR, better known as Fidelity Investments, exhausts either of the programs' limits, it can opt for either full or much cheaper partial reinstatements of limits, according to Ms. Lindenmayer, vp-Fidelity insurance and risk management.
The integrated, or concentric, risk program may be the first of its kind for a mutual-fund complex, according to Thomas F. McKenna, a J&H Marsh & McLennan managing director who helped Ms. Lindenmayer put together the programs.
The broker's Fin Pro division placed both of the three-year integrated programs, which combine coverage for multiple bond and professional liability exposures.
The programs went into effect in July 1996.
One concentric risk program covers Fidelity's mutual fund complex. Fidelity's FMR Co. subsidiary provides investment advisory, management and shareholder services to the nation's largest pool of mutual funds, which Fidelity does not own.
The other program, known as the corporate concentric risk program, covers all of Fidelity's other business operations. Fidelity runs a multitude of businesses, ranging from computer software development to stockbrokerage to credit card operations to an executive livery service, to name a few.

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Fidelity purchases Part A D&O coverage, which provides personal coverage to directors and officers when corporate indemnification is not permitted, from American International Group Inc.
Stockbrokers E&O.
Corporate E&O.
E&O liability for its Charitable Gift Fund.
Electronic and computer crime. The coverage protects Fidelity and its customers' assets from losses due to fraud committed through computer or electronic transmission activity, including computer viruses and fraudulent customer voice instructions.
On a shared-limits basis, Fidelity's Bermuda-based captive, Fidvest Ltd., retains the first $10 million of bond and stockbroker E&O losses.
The corporate concentric program provides first-dollar coverage for the other risks.
By using the captive, managed by Marsh & McLennan Management Services (Bermuda) Ltd. in Hamilton, Fidelity could afford enhanced coverage.
Most notably, the captive's participation allowed Fidelity to eliminate several exclusions in its stockbroker E&O coverage. For example, E&O claims arising from options or futures trading are not excluded under Fidelity's coverage, Ms. Manzo noted.
But, Fidvest does not play any role in the mutual funds' concentric risk program.
"We have always kept the funds' program separate from anything else we do on the corporate side," Ms. Lindenmayer explained. If it used the captive in the funds' program as well as in the corporate program, Fidelity might risk the amount of coverage that would be available to its mutual funds' customers, she said.
The main underwriters of both concentric risk programs are AIG, Chubb Corp., Reliance Insurance Group and underwriters at Lloyd's of London, which participate on a quota-share basis.
Fidelity's new financial insurance product provides excess coverage over the corporate concentric risk program.

https://www.businessinsurance.com/article/19970413/AWARDS03/10007902/1997-risk-manager-of-the-year-concentric-risk-programs-mean-big