A Muslim convert arrested two years ago has admitted to plotting to blow up the New York Stock Exchange. (Hat tip: LGF readers.)

LONDON (Reuters) - A Briton arrested amid a massive U.S. security alert two years ago admitted in a London court on Thursday to plotting to blow up the New York Stock Exchange and carry out “dirty bomb” attacks in Britain.

Dhiren Barot, a Muslim convert, admitted to plotting to blow up the stock exchange and other U.S. financial hubs including the headquarters of the International Monetary Fund, World Bank, Citigroup and Prudential in Washington, New Jersey and New York. “Explosions at these premises were clearly designed to kill as many people as possible”, said prosecuting lawyer Edmund Lawson.

Amid tight security at Woolwich Crown Court in South London, Barot pleaded guilty to conspiracy to murder and prosecutors outlined the details of his confession.

He admitted planning strikes on unspecified British targets in a conspiracy called the “Gas Limos Project”, which “involved parking three limos with gas cylinders with explosives and detonating them in underground carparks,” Lawson said.

Barot admitted another plan to detonate at least one “dirty bomb” contaminated with radiological material in Britain. The prosecution said Barot claimed the dirty bomb was not designed to kill but “rather to cause injury, fear terror and chaos”.

UPDATE at 10/12/06 8:56:33 am:

And a blast from the past: Democrats suggested the terror alert that led to this would-be mass murderer’s arrest was a fake during an election year to increase support for Bush.