Hi mmmary,
Although in general, I agree with the gist of your post, I would offer up one comment.
The brokerage account for the Elgindy children was a trust account, specifically identified as a Uniform Gift to Minor account in at least one responsible news story.
My (limited) knowledge of shorting says that in order to short, one must have an unrestricted, marginable brokerage account. The children's trust account, if the news report(s) are accurate, would likely not qualify for short activities at any brokerage that I know of, including Salomon Smith Barney. Trust accounts usually come with restrictions and are usually not marginable. Therefore, even if Mr. Elgindy had advance knowledge of the 9/11 events, he likely could only have liquidated long positions in the trust account, and not initiated any short positions. Just pointing this out for argumentative purposes. <g>
My own viewpoint on this aspect is that I prefer to believe that he had no advance information on the terrorist attacks, but then again, if he did, this wouldn't be the first time that Tony has disappointed those posters in the SI family who have tried really hard to believe that he's a reformed man.
On the overall indictment, I'm inclined to agree with the government case simply because it involves two of their own people, and I'm certain that the FBI does not easily nor gleefully indict their own agents, as the resulting legal actions tend to reek a foul stench for many months afterward on those folks who remain behind and are completely honorable.
KJC |
