Frist explains his stock sale.

[Inland]

Related threads on possible Frist insider trading:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x1795036

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x4846742

First SAYS through a spokesman (!) that he suddenly dumped his HCA stock to prevent an appearance of a conflict of interest in the health care field.

http://www.nytimes.com/2005/09/22/politics/22frist.html

So let me get this straight: Frist spends years bringing the goodies to HCA, builds the stock price up, sells at the top, and we are supposed to applaud his lack of conflict of interest?

He hasn't eliminated a conflict of interest. HE'S CASHED OUT. HE'S REALIZED THE PROFIT. HE'S COMPLETED THE TRANSACTION. HE'S TURNED INFLUENCE INTO MONEY.

True, he can't do it again--until he reinvests the profits in big pharma and repeats.

Do these people even give a shit about the cronyism and profiteering in government and private industry? Do they mind that profit depends on who you know?

As an aside, it seems Frist did not sell his stock pursuant to one of the SEC approved methods for insiders. Therefore the only questions to his prosecution are 1) did he have material non-public information and 2) Does anyone in the crony capitalist Bush administration or SEC care?

[GreenPartyVoter]

1. He needs to get nailed for this

[goddess40]

2. That will be good enough for the fascists that call themselves republican

They don't need the truth, they just need a rational.




Edit: spelling

[acmejack]

3. Yeah christopher Cox will get right on it

The evil prick is responsible for the rise in medical costs. All the hospitals turning into for profit businesses has done a lot to escalate the prices of in patient care.

[Skittles]

4. um..........he's a republican and a bush whore

did we expect any less?

[marmar]

5. Exactly...

He's just following his master's example, back when he sold his stock but was bailed out from the SEC investigation.

[spanone]

6. No people don't give a shit....look at Michael Brown

Gen. Myers neice, Neil Bush....it's sickening.

[Lasher]

7. To prevent an appearance of a conflict of interest??

Ha ha, that is so stupid! Is that the best lie he can come up with? I'll bet Jon Stewart and Bill Maher have a ball with this!

[DUgosh]

8. Jail with ankle bracelet????????????

That probably to heavy a sentence for a male person.

[mahatmakanejeeves]

9. Creation Investing

.

[kentuck]

10. And what did Martha Stewart go to jail for?

Different justice systems in this country, it seems to me.

[MaineDem]

11. Obstruction, I believe.

Not the stock sale.

[gratuitous]

12. So there was no "conflict" before this???

Like when he was working on the prescription drug benefit or probably about a hundred other bills that benefited him personally? Just how fucking stupid does he think we are? It's pretty insulting.

And I see that Frist is still trying to peddle the fiction that his HCA shares were in a blind trust. Lemme tell you something: When the beneficiary knows what's in his portfolio and directs the buying and selling of assets in the portfolio, then it ain't no blind trust.

Odd how those provincial bumpkins at the New York Times don't know that basic fact. Doesn't anyone in New York City have any financial savvy? Or do they figure that the rubes they're writing their stories for don't? That's pretty insulting, too.

[Mr_Spock]

13. Is that the best this RW hypocrite could do to spin this story?

That's pretty sad. He needs to go to jail just for coming up with such a LAME excuse for his criminal behavior. Repukes are unbelievable at times...

[Inland]

15. They think saying it with a straight face is good enough.

Nobody can get evidence of insider trading unless they admit it. So they don't.

[npincus]

14. hmm... we need a "Whitewater"-style commission to investigate