That&#8217-s what tries to demonstrate event derivative trader &#8220-Vancheeswaran&#8221- in a comment on the Freakonomics blog post featuring a complacent interview of InTrade-TradeSports&#8217- John Delaney.

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InTrade-TradeSports&#8217- John Delaney:

We listed a market on whether the U.S. Government would formally report that North Korea tested a missile in a certain manner. While the media reported that North Koreans did test a missile, it was not confirmed in an official U.S. Government release as was required in the market rules, so we settled the market according to the strict interpretation of the rules and not the understood intention of the market. This was understandably a real issue for some of our members and also for Intrade. It was a bad situation for everyone, really. We have learned from it.

Event derivative trader &#8220-Vancheeswaran&#8221-:

BULLSHIT.

Bryan Whitman ([email protected]) explicitly stated in print, in press conferences, and by email that North Korea fired multiple missiles into the Sea of Japan.

For instance, “North Korea fired a long-range Taepodong-2 missile and six short- and medium-range Scud and Nodong missiles. All landed in the Sea of Japan without incident.”

National Security Advisor Stephen Hadley, in a press conference at the White House, stated that the missiles “went out about 275 miles” into the Sea of Japan.
http://www.whitehouse.gov/news/releases/2006/07/20060704-1.html

There are many other examples of the U.S. military and government (not just the press) confirming that the missiles were launched and approximately where they landed.

John Delaney is completely misrepresenting what happened, just as he did at the time of the launches.

As I wrote last week, I will have my say on this Freakonomics interview. Stay tuned, folks.