Who Bought All Those Pre-9/11 Puts Anyway?

It's all about bucks, kid. The rest is conversation.

~Gordon Gekko, Wall Street
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I said don't ask no stupid questions
And I won't send you away
If you want to talk fishin'
Well, I guess that'll be OK.

~Lyrics, Don't Ask Me No Questions, Lynyrd Skynyrd

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With the extreme imbalance of puts to calls for airline and insurance stocks just prior to September 11th 2001, you would think that after nine years and seven month more details would be known. Mark H. Gaffney touches on this subject in his book, Black 911, A Walk on the Darkside, due out later this year.

In an excerpt from a recent article at foreignpolicyjournal.com, Gaffney writes:

The SEC was like a surgeon who opens a patient on the operating room table to remove a tumor, only to sew him back up again after finding that the cancer has metastasized through the system.

For a good read when you have the time, check out the entire two part article. Not surprisingly, after reading this, your suspicions may be confirmed, or you may think it is more science fiction...if there is such a thing. For those with short attention spans, read Part 2 first and then backtrack to Part 1.

Could somebody wake Oliver Stone out of his coma. His best script is right here.