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To: stockman_scott who wrote (42083)	9/18/2001 5:20:44 PM
From: Frederick Langford	Respond to of 65232

U.S. wants SEC action on attack profiteering Tuesday September 18, 4:42 pm Eastern Time WASHINGTON, Sept 18 (Reuters) - U.S. securities regulators should use all their resources to probe and prevent any possible market profiteering from attacks like last week's at the World Trade Center and the Pentagon, a top Democratic lawmaker said Tuesday. The U.S. Securities and Exchange Commission and regulators worldwide are looking into whether associates of Osama bin Laden, deemed the prime suspect in the attacks, tried to profit from the attacks by playing the markets. New York Rep. John LaFalce asked SEC Chairman Harvey Pitt for updates on the agency's investigation and expressed his ``deep concern'' at possible market manipulation. ``To the extent that individuals or entities have manipulated the broader markets, or have successfully devised schemes to profit from acts of terror, the SEC must use all its resources to find those responsible and recommend ways to end these practices,'' LaFalce said in a letter to Pitt. Regulators in Europe, Japan and the United States have said they are probing any unusual trading in insurance stocks, as well as in stock options ahead of the attacks. The Chicago Board Options Exchange, the world's largest options exchange, said Tuesday it was probing trading before last week's attacks. In Amsterdam, traders said Tuesday they alerted the Euronext stock market to unusually large volume in put options on shares of Dutch airline KLM ahead of the attacks. Regulators from 10 to 12 nations held a global conference call Monday and discussed the possibility those who organized the attacks had placed large bets aimed at profiting from the carnage, German markets watchdog BAWe said. biz.yahoo.com Fred