WTC Building 7 and Securities Fraud
by PAUL A. DROCKTON
by PAUL A. DROCKTON
(Sep. 16, 2011) The collapse of building 7, which was not hit by a
plane on the morning of 911, yet imploded anyway, pokes the biggest hole
in the official 911 story."So, although NIST had said in its report that there was no testimonial evidence for explosives, it now seemed to be saying that, because only 118 out of 500 reported explosions, the testimonies, “taken as a whole,” do not support the idea that explosions were going off, so that NIST had been justified in claiming that there was no testimonial evidence to support the idea that explosives had been used." (Source)
In other words, because the 7 blind men all grabbed hold of a different part of the elephant, and described the animal differently, we can conclude that the elephant did not exist. When you have 118 people saying that they heard/ and or saw explosions, and the National Institute of Standards and Technology stating that they did not see or hear explosions, people start talking about a "cover-up".
One of the men who reported that he had saw and heard explosions was Barry Jennings, who was trapped in Building 7:
"on August 19, 2008, 53 year old Barry Jennings died, two days before the release of the NIST Final Report on the collapse of WTC7.
Jennings was Deputy Director of Emergency Services Department for the New York City Housing Authority.
On September 11th, 2001, he saw and heard explosions BEFORE the Twin
Towers fell, while attempting to evacuate the WTC 7 Command Center with
NYC Corporation Counsel Michael Hess. Jennings publicly shared his
experiences with a reporter on the day of 9/11/01, as well as in a
lengthy 2007 video interview with Dylan Avery, a small clip of which was then released; subsequently his job was threatened and he asked that the taped interview not be included in Loose Change Final Cut..
However, after an interview with Jennings was broadcast by the BBC in their program The Third Tower ostensibly refuting what he had previously stated to Avery, Avery felt compelled to release the full original video interview to show the distortions made by the BBC. The cause of Jennings' death has not been made public, and a private investigator hired by Avery to discover the cause and circumstances surrounding his death refused to proceed with his investigation. In spite of the significance of Jennings' position with NYC on 9/11 and his controversial eyewitness testimony regarding the collapse of WTC7, the media has not investigated or reported on his death, nor reported on his statements." (Source)
Jennings also reported that, when he exited Building 7, the lobby was in ruins and they were stepping over dead bodies. The Official 911 report said that nobody was killed in Building 7. A lobby in ruins would indicate an explosion did occur within building 7. (Source)
Even more interesting were the tenants that then occupied Building 7:
1. Salomon Smith Barney: leased over 1 million square feet in building 7. The firm was under investigation for its stock ratings and alleged securities fraud. Settled for $400 million in 2004. (Source)
"Jack Grubman, Smith Barney’s former telecom stock analyst, resigned from his position in August 2002, due to professional and personal hardship brought on by investigations into his stock ratings. Grubman maintains that he acted in line with fair dealing standards and published ratings he believed to be accurate. His ratings had a history of being highly respected and trusted by investors. However, as telecom stock values fell, his bullish ratings were accepted with growing hesitation. By the time Grubman lowered his ratings of nearly worthless stocks from “buy” to “neutral,” investors had lost millions. In one telling example, Global Crossing, which was rated at “buy” until October of 2001, went bankrupt only four months later (January, 2002). Grubman’s ratings of WorldCom also remained high during the telecom bust and were not dropped until March of 2002, just months before the company’s collapse. In April of 2003 Grubman was fined $15 million and barred from serving in the securities industry by the SEC and other regulators." (Source)
Other companies given strong buy ratings included:
* 24/7 Media
* Adelphia Business Solutions
* Enron
* FLAG Telecom Holdings, Ltd.
* Focal Communications
* Global Crossing
* Level 3 Communication, Inc.
* McLeodUSA, Inc.
* Metromedia Fibre Network International
* Quokka Sports (Ibid)
* Webvan
* Williams Communication Group
* Winstar Communications
* WorldCom
* XO Communications Group
* Smith Barney Settlement
"Global Crossing was brought public in 1998 by Smith Barney. The company, which aimed to lay global fiber-optic telecom cables, received frequent advising from Grubman. He advised Global Crossing on its purchase of Frontier Communications, its attempted takeover of US West, and its choice of Robert Annunziata as CEO. Grubman continued to publish ratings on Global Crossing stock, even though he was personally involved in the company. He has faced intense criticism and even lawsuits because he gave the company “buy” ratings, apparently out of a conflict of interest, through nearly the entire length of the its collapse. These “buy” ratings weren’t dropped until October of 2001. Shares were valued at one dollar by this time. Global Crossing declared bankruptcy in January of 2002." (Ibid)
Even more interestingly, Citigroup, which owned Smith Barney, had Dick Cheney and Donald Rumsfield on its Board of Directors until January 2001. Citigroup experienced 45 times its normal trading volume in the days leading up to 911.
ORIGINALLY PUBLISHED
http://www.moneyteachers.org/Building+7+Securities+Fraud.html
However, after an interview with Jennings was broadcast by the BBC in their program The Third Tower ostensibly refuting what he had previously stated to Avery, Avery felt compelled to release the full original video interview to show the distortions made by the BBC. The cause of Jennings' death has not been made public, and a private investigator hired by Avery to discover the cause and circumstances surrounding his death refused to proceed with his investigation. In spite of the significance of Jennings' position with NYC on 9/11 and his controversial eyewitness testimony regarding the collapse of WTC7, the media has not investigated or reported on his death, nor reported on his statements." (Source)
Jennings also reported that, when he exited Building 7, the lobby was in ruins and they were stepping over dead bodies. The Official 911 report said that nobody was killed in Building 7. A lobby in ruins would indicate an explosion did occur within building 7. (Source)
Even more interesting were the tenants that then occupied Building 7:
1. Salomon Smith Barney: leased over 1 million square feet in building 7. The firm was under investigation for its stock ratings and alleged securities fraud. Settled for $400 million in 2004. (Source)
"Jack Grubman, Smith Barney’s former telecom stock analyst, resigned from his position in August 2002, due to professional and personal hardship brought on by investigations into his stock ratings. Grubman maintains that he acted in line with fair dealing standards and published ratings he believed to be accurate. His ratings had a history of being highly respected and trusted by investors. However, as telecom stock values fell, his bullish ratings were accepted with growing hesitation. By the time Grubman lowered his ratings of nearly worthless stocks from “buy” to “neutral,” investors had lost millions. In one telling example, Global Crossing, which was rated at “buy” until October of 2001, went bankrupt only four months later (January, 2002). Grubman’s ratings of WorldCom also remained high during the telecom bust and were not dropped until March of 2002, just months before the company’s collapse. In April of 2003 Grubman was fined $15 million and barred from serving in the securities industry by the SEC and other regulators." (Source)
Other companies given strong buy ratings included:
* 24/7 Media
* Adelphia Business Solutions
* Enron
* FLAG Telecom Holdings, Ltd.
* Focal Communications
* Global Crossing
* Level 3 Communication, Inc.
* McLeodUSA, Inc.
* Metromedia Fibre Network International
* Quokka Sports (Ibid)
* Webvan
* Williams Communication Group
* Winstar Communications
* WorldCom
* XO Communications Group
* Smith Barney Settlement
"Global Crossing was brought public in 1998 by Smith Barney. The company, which aimed to lay global fiber-optic telecom cables, received frequent advising from Grubman. He advised Global Crossing on its purchase of Frontier Communications, its attempted takeover of US West, and its choice of Robert Annunziata as CEO. Grubman continued to publish ratings on Global Crossing stock, even though he was personally involved in the company. He has faced intense criticism and even lawsuits because he gave the company “buy” ratings, apparently out of a conflict of interest, through nearly the entire length of the its collapse. These “buy” ratings weren’t dropped until October of 2001. Shares were valued at one dollar by this time. Global Crossing declared bankruptcy in January of 2002." (Ibid)
Even more interestingly, Citigroup, which owned Smith Barney, had Dick Cheney and Donald Rumsfield on its Board of Directors until January 2001. Citigroup experienced 45 times its normal trading volume in the days leading up to 911.
ORIGINALLY PUBLISHED
http://www.moneyteachers.org/Building+7+Securities+Fraud.html
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