WASHINGTON (AP) -- Blind trusts are designed to keep an arm's-length distance between federal officials and their investments, to avoid conflicts of interest. But documents show that Senate Majority Leader Bill Frist knew quite a bit about his accounts from nearly two dozen letters from the trust administrators.
Frist, R-Tennessee, received regular updates of transfers of assets to his blind trusts and sales of assets. He also was able to initiate a stock sale of a hospital chain founded by his family with perfect timing. Shortly after the sale this summer, the stock price dived.
The stock was in HCA Inc., a chain of hospitals founded in the late 1960s by Frist's father and brother. At the time of the sale, insiders also were selling. Shortly after that sale, the stock price dipped because of a warning that earnings would not meet Wall Street expectations.
"If, in fact, Frist was actively involved in this decision, he certainly has to supply an explanation of how that's consistent with a blind trust," said Bob Bauer, a Washington attorney who has set up blind trusts for Democratic members of Congress.
GOI: Yep, Fristy has a lot of explaining to do.
OTHER GOP CORRUPTION: "THE DIRTY BAKER'S DOZEN"
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8 comments:
Could this mean the end of President Frist? I hope I hope I hope
Crimnos:
Yeah, I think his presidential bid is as dead as his majority leader status now with this information.
I agree: Goodbye Pres. Frist. Hello Jailbird Frist.
I don't think there's any way he can continue to play dumb about this. Even if the SEC goes soft on him, he's not going to be a viable candidate on the national level. And if his opponents (Dems and Republicans) play there cards right, he won't be a viable candidate for re-election to the senate if he chooses to run for another term either.
Formerly frisky Frist looked pretty fried before this -- now he's fricasseed and forever finished. Fare-the-well, Fristy.
Eh, he should look on the bright side. He could make an absolute killing in the private sector. He should become the first Internet Doctor, what with his savvy at diagnosing from a distance.
Crimnos:
As always though the MSM isn't hardly covering this. You have to search the papers to get any info. or listen to the radio.
Tom:
Nice use of the letter F. :)
Farbeit for fellow flunkies to flaunt their feelings in ferret-like fashion. Find fortitude, fellows, and free yourselves from this feeble flap about Frist's fortunes and find fairer fields to forage.
UL:
"fello flunkies??" Who do you mean by this statement?
I'm willing to wait until the jury is out on Frist but you have to admit it looks pretty bad. I am, however, willing to look at Nancy Pelosi and the allegations that she is bending the rules too.
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