Evidence for Informed Trading on the Attacks of September 11


[1] National Commission on the Terrorist Attacks Upon the United States, The 9/11 Commission Report, July 2004, p 172, and Chapter 5, footnote 130, http://govinfo.library.unt.edu/911/report/911Report.pdf

[2] 9/11 Commission memorandum entitled “FBI Briefing on Trading”, prepared by Doug Greenburg, 18 August 2003, http://media.nara.gov/9-11/MFR/t-0148-911MFR-00269.pdf

[3] Dave Carpenter, Exchange examines odd jump: Before attack: Many put options of hijacked planes’ parent companies purchased , The Associated Press, 18 September 2001, http://911research.wtc7.net/cache/sept11/cjonline_oddjump.html

[4] BBC News, Bin Laden ‘share gains’ probe, 18 September 2001, http://news.bbc.co.uk/2/hi/business/1548118.stm

[5] Tom Bogdanowicz and Brooks Jackson, Probes into ‘suspicious’ trading, CNN, 24 September 2001, http://web.archive.org/web/20011114023845/http://fyi.cnn.com/2001/WORLD/europe/09/24/gen.europe.shortselling/

[6] James Doran, Insider Trading Apparently Based on Foreknowledge of 9/11 Attacks, The London Times, 18 September 2001, http://911research.wtc7.net/cache/sept11/londontimes_insidertrading.html

[7] David Brancaccio, Marketplace Public Radio: News Archives, 17 October 2001, http://marketplace.publicradio.org/shows/2001/10/17_mpp.html

[8] Paul Thompson and The Center for Cooperative Research, Terror Timeline: Year by Year, Day by Day, Minute by Minute:  A Comprehensive Chronicle of the Road to 9/11 – and America’s Response, Harper Collins, 2004.  Also found at History Commons, Complete 9/11 Timeline, Insider Trading and Other Foreknowledge http://www.historycommons.org/timeline.jsp?timeline=complete_911_timeline&before_9/11=insidertrading

[9] Associated Press, EU Searches for Suspicious Trading , 22 September 2001, http://www.foxnews.com/story/0,2933,34910,00.html

[10] World News Tonight, 20 September 2001

[11] Erin E. Arvedlund, Follow The Money: Terrorist Conspirators Could Have Profited More From Fall Of Entire Market Than Single Stocks, Barron’s (Dow Jones and Company), 6 October 2001

[12] Ibid

[13] Michael C. Ruppert, Crossing the Rubicon: the decline of the American empire at the end of the age of oil, New Society Publishers, 2004

[14] Kyle F. Hence, Massive pre-attack ‘insider trading’ offer authorities hottest trail to accomplices, Centre for Research on Globalisation (CRG), 21 April 2002, http://globalresearch.ca/articles/HEN204B.html

[15] Grant Ringshaw, Profits of doom, The London Telegraph, 23 September 2001, http://911research.wtc7.net/cache/sept11/telegraph_profitsofdoom.html

[16] Christian Berthelsen and Scott Winokur,  Suspicious profits sit uncollected:  Airline investors seem to be lying low, San Francisco Chronicle, 29 September 2001, http://www.sfgate.com/cgi-bin/article.cgi?file=%2Fchronicle%2Farchive%2F2001%2F09%2F29%2FMN186128.DTL#ixzz14XPGwh6e

[17] Lewis Paul Bremer III on Washington, DC, NBC4 TV, 11 September 2001, Vehmgericht http://vehme.blogspot.com/2007/08/lewis-paul-bremer-iii-on-washington-dc.html

[18] Charles Gasparino and Gregory Zuckerman, Treasury Bonds Enter Purview of U.S. Inquiry Into Attack Gains, The Wall Street Journal, 2 October 2001, http://s3.amazonaws.com/911timeline/2001/wallstreetjournal100201.html

[19] Christian Berthelsen and Scott Winokur

[20] Tagesspiegel, Former German Cabinet Minister Attacks Official Brainwashing On September 11 Issue Points at “Mad Dog” Zbig and Huntington, 13 January 2002, http://www.ratical.org/ratville/CAH/VonBuelow.html

[21] 9/11 Commission memorandum

[22] The 9/11 Commission memorandum that summarized the FBI investigations refers to the traders involved in the Stratesec purchase.  From the references in the document, we can make out that the two people had the same last name and were related.  This fits the description of Wirt and Sally Walker, who are known to be stock holders in Stratesec.  Additionally, one (Wirt) was a director at the company, a director at a publicly traded company in Oklahoma (Aviation General), and chairman of an investment firm in Washington, DC (Kuwam Corp).

[23] 9/11 Commission memorandum

[24] Sourcewatch, Mansoor Ijaz/Sudan, http://www.sourcewatch.org/index.php?title=Mansoor_Ijaz/Sudan

[25] History Commons, Complete 911 Timeline, Bin Laden Family, http://www.historycommons.org/timeline.jsp?financing_of_al-qaeda:_a_more_detailed_look=binladenFamily&timeline=complete_911_timeline

[26] Kevin R. Ryan, The History of Wirt Dexter Walker: Russell & Co, the CIA and 9/11, 911blogger.com, 3 September 2010, http://911blogger.com/news/2010-09-03/history-wirt-dexter-walker-russell-company-cia-and-911

[27] Michael Moran, Bin Laden comes home to roost : His CIA ties are only the beginning of a woeful story, MSNBC, 24 August 1998, http://www.msnbc.msn.com/id/3340101

[28] Alex Berenson, U.S. Suggests, Without Proof, Stock Adviser Knew of 9/11, The New York Times, 25 May 2002, http://query.nytimes.com/gst/fullpage.html?res=9E06E4DB143BF936A15756C0A9649C8B63

[29] Alex Berenson, Five, Including F.B.I. Agents, Are Named In a Conspiracy, The New York Times, 23 May 2002

[30] History Commons, Complete 911 Timeline, Saudi American Bank, http://www.historycommons.org/entity.jsp?entity=saudi_american_bank

[31] 9/11 Commission memorandum

[32] 9/11 Commission memorandum

[33] Erik Kirschbaum, German Firm Probes Final World Trade Center Deals, Reuters, 16 December 2001, http://911research.wtc7.net/cache/sept11/reuters_wtc_drives.html

[34] Allen M. Poteshman, Unusual Option Market Activity and the Terrorist Attacks of September 11, 2001, The Journal of Business, 2006, vol. 79, no. 4, http://www.journals.uchicago.edu/doi/abs/10.1086/503645

[35] Marc Chesney, et al, Detecting Informed Trading Activities in the Options Markets, Social Sciences Research Network, 13 January 2010, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1522157

[36] Wing-Keung Wong, et al, Was there Abnormal Trading in the S&P 500 Index Options Prior to the September 11 Attacks?, Social Sciences Research Network, April 2010, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1588523

Kevin Ryan

Kevin Ryan
Kevin R. Ryan began to investigate the tragedy of September 11th, 2001 through his work as Site Manager for a division of Underwriters Laboratories (UL). He was fired by UL in 2004 for writing to the National Institute of Standards and Technology (NIST), asking about its World Trade Center investigation and UL’s work to ensure the fire resistance of the buildings. He now serves as co-editor of the Journal of 9/11 Studies, and is a former board director at Architects and Engineers for 9/11 Truth. Ryan has co-authored several books and peer-reviewed scientific articles on the subject. 
  • Butch C.

    Fantastic article, Mr. Ryan! Please know many of us appreciate your diligence in shedding light on these important, if arcane, matters.

  • http://FlybyNews.com Jonathan Mark

    It is wonderful when an engineer applies scientific principles to help expose the complicated affair of economic terrorism or cover-up. I hope this will engage the US Congressman from Ohio, Dennis Kucinich, to move forwards in his promised hearings on the financial issues regarding 9/11.

  • Nome DePlume

    Dear Mr. Ryan,

    You are a TRUE, modern-day HERO–your attempt to expose the fraud committed by the 9/11 Omission Commission, in your research into how the steel beams UL tested for NIST SURVIVED for 6 hours @ 2,000 degrees F (under heavy loading!) (IIRC) is an inspiration to us all!

    I know UL fired you as a result of your letter to NIST and I am pleased to see you have “landed” in a situation conducive to your ethics, honesty and patriotism.

    David Ray Griffin speaks well of you in his books on 9/11, too.

    You have my undying respect, and I would hope, one day, to be able to find employment in such a worthy cause, as you have–sadly, I lack your engineering background. However, you have just proven yourself to be stunningly adept in the financial disciplines as well–Kudos to you, Sir!

    Please be careful, and do not board small aircraft.

    With much love and respect,

    A Fellow Patriot

  • australian

    Thank you for your hard work, Kevin Ryan.

  • http://www.twitter.com/soooouuuuurrrrr laurence

    the connection to bush is lose at best and if going to be made should be further elaborated on.

  • http://www.disclose.tv/99thdimension/ Dave-O

    I’ve read bits and pieces but this puts it all together as a whole, I smell a book coming out, I hope.

  • Paul Caerleon

    Dear Kevin, thanks for the great piece of detective work. It had always angered me that this part of the puzzle seemed to have been neglected by those who could have made an issue of it – the media and politicians especially. I’m relieved to see that numerous investigators from the financial world have been quietly burrowing away to reveal the connections. News to me also was the fact that hard drive data had been recovered.
    When you write that it is important for this information to be properly investigated and publicised in order to prevent further ‘terrorist’ attacks, I presume you are referring to the state-sponsored terrorists – who have been promising us more and bigger 9/11-style attacks (i.e. inside jobs).

  • Evelyn Goodman

    I have known for a LONG time that this was an ‘inside job’ done by the Bush administration in order to have the excuse to get into Iraq for its oil deposits.
    All of the shameful acts and lives lost following this will always be an abomination on the soul of America, and its repercusions are not yet over!
    It must come to light, sooner or later, for the sake of truth!

  • Regg

    Everyone reading this should own a copy of Mike Ruppert’s ‘Crossing the Rubicon’. Mike was always way, way, WAY ahead of the curve, and his lecture at Portland State University in November 2001 is still one of the most mind-blowing and important presentations ever given on the subject of 9/11, nearly ten years later.

    Chapter 14 in ‘Rubicon’ is titled “9/11 Insider Trading, or ‘You Didn’t Really See That, Even Though We Saw It'”, and From The Wilderness was publishing 9/11 articles on insider trading since late 2001, still available in the archives.

    In 2004, Mike Ruppert said that if the move toward a criminal investigation wasn’t begun by the ’04 elections, 9/11 would cease to be a current political topic and would therefore become yet another endless historical debate, like the assassinations of the Kennedys and MLK.

    With these 9/11 stories floating around and resurfacing, he is once again, correct.

  • Therese

    It’s the catch-22 rule – how do we know if we’re mad? By using these circular agruments, i.e. to bring peace and stability we must have war; they can justify anything even kidnapping, torture and mass murder.

  • Elle crash

    What stood out for me the most in your article, the statement about “not having ties to Al Qeida”…. What they should have used as the measurement was “US government officials or people stood to profit” as the yardstick…chilling when you think how many people died and the resultant Patriot Act…I fear more to come and thinking that that is even possible to treat a fellow human being in that manner is more than I can comprehend. Great article.

  • Observer

    If the lady enjoys being raped, and herself defends the rapist, what can the law do?

    I’m reminded of the novel, “To Kill a Mocking Bird.”

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  • davol

    Great article for my pile of 9/11 evidence. I’m left however, wondering if there is a connection between Wirt D. Walker III, and his wife Sally Walker and the Walker in George H Walker Bush. I know it’s a rich family name very close to the Bush clan. Still they are not directly connected to Al Qaeda. Nothing to see there.

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  • Carl Jones

    As a 9/11 truther on 9/11, these insider trading deals cropped up very early. Both the CIA and MI6 monitor the markets, but could not link these trades with their officer in the WTC or the US airlines involved. In fact, many of the offices where these trades originated, employed ex senior CIA officers. This is probably the greatest 9/11 smoking gun, yet it has been ignored and shunned by the majority of truther sites. It rather confirms the opposition is fake.lol

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