The North Carolina investigation was first brought to light by State Department Inspector General Howard Krongard, who mentioned it, perhaps inadvertently, this week while denying he had improperly blocked fraud and corruption probes in Iraq and Afghanistan.

A.B. ("Buzzy") Krongard was a participant or observer in the following events:

June 3, 2002: The Results of 9/11 Related Insider Trading Inquiries Are Still Unknown A rare follow-up article about insider trading based on 9/11 foreknowledge confirms that numerous inquiries in the US and around the world are still ongoing. However, “all are treating these inquiries as if they were state secrets.” The author speculates: “The silence from the investigating camps could mean any of several things: Either terrorists are responsible for the puts on the airline stocks; others besides terrorists had foreknowledge; the puts were just lucky bets by credible investors; or, there is nothing whatsoever to support the insider-trading rumors.” [Insight, 6/3/2002] Another article notes that Deutsche Bank Alex Brown, the American investment banking arm of German giant Deutsche Bank, purchased at least some of these options. Deutsche Bank Alex Brown was once headed by “Buzzy” Krongard, who quit that company in March 2001 and became Executive Director of the Central Intelligence Agency (CIA). “This fact may not be significant. And then again, it may. After all, there has traditionally been a close link between the CIA, big banks, and the brokerage business.” [Business Line, 2/11/2002]

January 9, 2005: Newly Departing CIA Executive Director Says It’s Better If Bin Laden Remains Free A. B. “Buzzy” Krongard, the CIA’s recently departed Executive Director, says in an interview that the world may be better off if bin Laden remains at large. Krongard had been Executive Director, the CIA’s third most senior position, from 1998 until six weeks before this interview. He states, “You can make the argument that we’re better off with him [at large]. Because if something happens to bin Laden, you might find a lot of people vying for his position and demonstrating how macho they are by unleashing a stream of terror.” The London Times notes that, “Several US officials have privately admitted that it may be better to keep bin Laden pinned down on the border of Afghanistan and Pakistan rather than make him a martyr or put him on trial.” However, Krongard is the only senior official to say so publicly, and this position completely contradicts the rhetoric of the Bush administration, which has consistently claimed that catching bin Laden remains a top priority. [London Times, 1/9/2005]