Frist Stock NOT Only in Blind Trusts; GOP Considering Forfetting 2008 Elections Now
Topic: Politics
The Associated Press has discovered that Senate Majority Leader Bill Frist not only earned money from his family-controlled HCA corporation by dealing with blind trusts, but also from thousands of shares of HCA stock controlled outside of the trusts by his brother, the president of the hospital chain. This conflict of interest could mean that Frist was voting illegally for health care issues while having a stake in the actual health care market.
And let's not forget the SEC going after him for possible insider trading, i.e. "Pulling a Martha," as it is now called. Now we're not going to preach and pretend that we know fuck-all about the stock market, because we're basically retards when it comes to that, so we're going to use some quotes from the AP to help explain what is going on.
Edmond M. Ianni, a former Wilmington, Del., bank executive who established blind trusts for corporate executives, questioned why the senator's brother was able to manage assets "when the whole purpose of a blind trust is to ensure lack of not only conflict of interest — but appearance of conflict of interest?"Umm, did you get that? Here's a statement from Frist's people:
"His interests in the family partnership were not held by his Senate blind trusts because Senate rules did not permit it. Senator Frist did not control the assets in this partnership and he annually disclosed his interests to the public as required," Frist spokesman Bob Stevenson said.Okay, so we're gonna keep on this, even though we don't know what any of it means. We know it's not good for the GOP during their time of everyone screwing up, but then again, as long as no one finds a half-eaten baby under John McCain's desk, he should be cool for 2008.
AP via YAHOO! NEWS
Posted by James
at 4:02 PM CDT