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Babbler # 7424

posted 29 September 2005 10:07 AM      Profile for RP.     Send New Private Message      Edit/Delete Post
SEC: Frist "inquiry" upgraded to "investigation". Expected to make "hurricane" by Saturday

(that headline blantantly ripped off from Fark, but I felt it summed up the situation better than I could)

From: I seem to be having tremendous difficulty with my lifestyle | Registered: Nov 2004  |  IP: Logged
Babbler # 9960

posted 11 October 2005 08:51 PM      Profile for Transplant     Send New Private Message      Edit/Delete Post
Frist Accumulated Stock Outside Trusts

AP - Outside the blind trusts he created to avoid a conflict of interest, Senate Majority Leader Bill Frist earned tens of thousands of dollars from stock in a family-founded hospital chain largely controlled by his brother, documents show.

The Tennessee Republican, whose sale this summer of HCA Inc. stock is under federal investigation, has long maintained he could own HCA shares and still vote on health care legislation without a conflict because he had placed the stock in blind trusts approved by the Senate.

However, ethics experts say a partnership arrangement shown in documents obtained by The Associated Press raises serious doubts about whether the senator truly avoided a conflict.

Drip. Drip. Drip.

From: Free North America | Registered: Jul 2005  |  IP: Logged
Babbler # 2938

posted 13 October 2005 07:54 AM      Profile for josh     Send New Private Message      Edit/Delete Post

Senate Majority Leader Bill Frist (R-Tenn.) has been subpoenaed to turn over personal records and documents as federal authorities step up a probe of his July sales of HCA Inc. stock, according to sources familiar with the investigation.

The Securities and Exchange Commission issued the subpoena within the past two weeks, after initial reports that Frist, the Senate's top Republican official, was under scrutiny by the agency and the Justice Department for possible violations of insider trading laws.

Frist aides previously said he had been contacted by regulators but did not mention that the lawmaker had received a formal request for documents. The sources, who spoke on condition of anonymity because of the investigation, said Frist is expected to testify under oath about what he knew about the company's health in the weeks before he sold stock.

From: the twilight zone between the U.S. and Canada | Registered: Aug 2002  |  IP: Logged
Babbler # 1885

posted 13 October 2005 08:24 AM      Profile for Briguy     Send New Private Message      Edit/Delete Post
[sort-of-drift, but not totally]

I'm not cynical, not I, but all of these top-level Republican investigations and the debacle of New Orleans leave me with a question: Was the NYC Subway scare based on anything real? Did they catch anyone with plastique in a baby carriage instead of a baby? Or was that alert fabricated to distract the public from the increasing failures and corruption of BushCo? There was a time when the terror colour bar would slide upwards in order to create sheepish compliance among the citizenry, but that time has passed. Nobody seems to report on the rainbow of horror anymore. Perhaps more specific threats are being concocted (or simply followed up on publicly, instead of privately within agencies) to create the same sense of fear as the colour bar used to a couple of years ago.

[/end drift]

From: No one is arguing that we should run the space program based on Physics 101. | Registered: Nov 2001  |  IP: Logged
Babbler # 2938

posted 24 October 2005 11:02 AM      Profile for josh     Send New Private Message      Edit/Delete Post

Senate Majority Leader Bill Frist (R-Tenn.) was given considerable information about his stake in his family's hospital company, according to records that are at odds with his past statements that he did not know what was in his stock holdings.

Managers of the trusts that Frist once described as "totally blind," regularly informed him when they added new shares of HCA Inc. or other assets to his holdings, according to the documents.

Since 2001, the trustees have written to Frist and the Senate 15 times detailing the sale of assets from or the contribution of assets to trusts of Frist and his family. The letters included notice of the addition of HCA shares worth $500,000 to $1 million in 2001 and HCA stock worth $750,000 to $1.5 million in 2002. The trust agreements require the trustees to inform Frist and the Senate whenever assets are added or sold.

The letters seem to undermine one of the major arguments the senator has used throughout his political career to rebut criticism of his ownership in HCA: that the stock was held in blind trusts beyond his control and that he had little idea of the extent of those

From: the twilight zone between the U.S. and Canada | Registered: Aug 2002  |  IP: Logged

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