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"Frist personally paid off $72,000 debt on campaign, records show "

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dajoki Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 10:52 PM
Original message
"Frist personally paid off $72,000 debt on campaign, records show "
link
http://famulus.msnbc.com/famulusgen/ap10-19-153858.asp?...

Frist personally paid off $72,000 debt on campaign, records show

By JONATHAN M. KATZ
ASSOCIATED PRESS


WASHINGTON, Oct. 19 Senate Majority Leader Bill Frist paid $72,012 from his own pocket to his 2000 re-election campaign fund in August, two months after he was notified that trustees had sold millions of dollars of his stock in HCA Inc., the hospital chain founded by his father and brother.

That Aug. 30 payment was disclosed in Federal Election Commission filings last Friday. The documents also show the campaign fund on the same day paid off a $349,107 outstanding loan from U.S. Bank Corp. Both transactions enabled the Tennessee Republican to close the Senate campaign fund in anticipation of his retirement from the Senate next year and a possible run for the White House in 2008.

Frist has come under scrutiny from federal prosecutors and the Securities and Exchange Commission following the sale of his HCA stock. The sales were completed by July 1, near the stock's 52-week peak and two weeks before share prices fell 9 percent.

The U.S. Bank Corp. loan originally was taken to repay Frist some of the $1 million of his personal fortune he put into his initial 1994 campaign for the Senate.


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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 10:57 PM
Response to Original message
1. Do you realize this info will get Frist off the hook?
If he can show he owed $$, or had a purpose to sell the stock, he's proven a reason, other than insider trading, to have sold his stock!

I think he's off the hook on this one!
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dajoki Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:04 PM
Response to Reply #1
3. he paid it after he sold stock...
i don't think it gets him off the hook.
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:38 PM
Response to Reply #3
6. You don't understand. All he has to do is prove, or give reasonable
doubt to the idea that he sold the stock because he had bills to pay, and not because he knew the price was going to drop.

You're allowed to sell your stock any time you want! You just can't sell it based on infornation the public doesn't have.

Believe me, this is his out.
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chalky Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:42 PM
Response to Reply #6
7. So they sold millions of dollars worth of stock to pay off a $72,000 debt?
Ooooookaaaaay........
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dajoki Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:55 PM
Response to Reply #6
8. we'll have to disagree on this one...
why did he wait for 12 years to sell? insider knowledge? to much of a coincidence for me.
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-20-05 12:17 AM
Response to Reply #8
9. We agree to disagree. I will wait to see what the SEC rules.
You know my guess and I know yours.

I have been through these SEC investigations in the past. Perhaps they've changed the way they think, but if they have, my guess is even stronger that they will find no problem here.
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dajoki Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-20-05 01:45 PM
Response to Reply #9
10. whatever happens...
beer on me :toast:
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Hissyspit Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 10:59 PM
Response to Original message
2. Just went 'boom' on the recommend button
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DainBramaged Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:08 PM
Response to Original message
4. Just another Corrupt Conservative Propagandist gone badder
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dajoki Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:10 PM
Response to Reply #4
5. i love your W's n/t
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