The Frist Stock Sale Timeline
By on Sep 26th, 2005 at 9:37 am
The Frist Stock Sale Timeline
This summer, Senate Majority Leader Bill Frist (R-TN) abruptly sold his shares of the family hospital corporation, HCA Inc., just a month before a company announcement sent the stock price plummeting.
ThinkProgress has created a Frist Stock timeline that catalogues the key events in this emerging scandal. The timeline reveals that Frist faces at least four distinct problems:
1. Lying to the public.
2. A violation of Senate Ethics rules.
3. A Securities and Exchange Commission (SEC) investigation.
4. A Justice Department investigation.
Check it out HERE.
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Nice job, ThinkProgress.
This cat killing son-of-a-bitch is going down. If Martha Stewart served 5 months, Frist is good for 5 years.
Linking to this.
September 26th, 2005 at 9:51 amMartha perjured. He won’t do time. It would be funny to see him in the prison yard sans hairspray!
September 26th, 2005 at 9:59 amWhere are the trolls? Guess they have nothing to say about this one. Bad news for Frist. Good news for the country.
September 26th, 2005 at 10:25 am2004 – Frist violated 2 out of 9 tenets of the Code of Medical Ethics when he claimed that tears and sweat COULD transmit HIV.
http://www.liberaloasis.com/archives/120504.htm#frist
2005 – Frist violated every possible ethical code under the sun when he claimed that Terry Schiavo “certainly seems to respond to visual stimuli” and then lied about whether he ever said that.
http://www.msnbc.msn.com/id/6448213/did/7235267/
[Sorry this doesn't help your timeline, but these things shouldn't be forgotten either, when the question about overall ethics and responsibility as a senator ever comes up...]
September 26th, 2005 at 10:31 amWe must work toward non-electronic balloting nationwide.
comment by Marie
I agree, I hate electronic ballots. The only problem with that though falls on your side of the fence. Way too many of your fellow liberals aren’t smart enough to punch a hole in a card next to their choice. Way to many of your democratic polling workers don’t know how to work the machines or count the votes. Maybe it would be better just to have a show of hands for you people?
September 26th, 2005 at 11:02 amOoops…got that one in the wrong spot…never mind.
September 26th, 2005 at 11:02 amPerhaps this is the time for Frist to receive the Martha Stewart treatment.
September 26th, 2005 at 11:08 amSusan, Frist is male, it will never happen. But we can hope!
September 26th, 2005 at 11:12 amDudes – this timeline needs a lot of work. In my opinion, you’ve got to separate out the three key themes in this episode.
Theme 1 – Frist’s conflicts of interest.
I will give you this… the idea that the sale of HCA shares took place to avoid a conflict is baloney. If he really cared about conflicts, Frist would have sold his HCA stock long ago. It’s not like he had a pang of conscience sometime this summer. He sold because he though it the right time to sell.
But ultimately, you won’t get Frist on being conflicted. It doesn’t look good, and that scores well with the jury, but it won’t sink Frist. However, you do get bonus points for showing that when Bill Frist wrestles with his conscience, Bill Frist wins.
Theme 2 – Blind trusts.
Unlike the point on conflicts, this is an ethics slam dunk. Violating the terms of a blind trust agreement might not be the sexiest charge in the world, but this will stick. However, you will require the Senate Ethics Committee to come out of hibernation for this to gain traction, and I don’t think that’s a given, and it’s not like the GOPhers take ethics violations by their own very seriously anyway.
Still, you get points for showing that Frist is ethically challenged, and that is more grist to the credibility mill.
Theme 3 – Insider Dealing
This investigation will focus on trying to demonstrate that Frist knew – from other HCA insiders – in advance that HCA would miss its targets. This is enormously difficult, and the investigators on the case have a mother of a job ahead of them, especially as they will be looking to lodge criminal charges if they can.
However, to the extent that you find evidence of Frist being in contact with HCA insiders in June, that’s the kind of sh*t that can build a picture of insider dealing. Maybe it’s my bias, but I think this deserves a timeline in its own right, uncluttered by the conflicts and ethics questions (within which lying to the public is intertwined) which are separate issues from the most serious charge of insider dealing.
And here you will also open up the possibility you might uncover stuff that Frist doesn’t tell investigators or contradicts what he tells investigators – this is Martha Stewart territory, and it will have Frist sh*tting himself until the SEC close the book on this. Or not.
September 26th, 2005 at 11:16 amForget the Senate Ethics committee. It wont happen. Also forget the SEC investigation, it wont happen either.
I am sad to say that the Justice Department, under the current attorney general, the shrub lapdog, probably wont act either.
Whats left. THE BALLOT BOX.
September 26th, 2005 at 11:19 amIt doesn’t matter if there are any legal ramifications to Frist’s actions, he is dead in TN. Sheep can handle only a few words at a time and here is how it reads in the Volunteer state: Frist – sold – stock – tanked. That is what is boils down to. And don’t let the door hit you on the way out kitten killer freak.
September 26th, 2005 at 11:22 am[...] (via thinkprogress.org) [...]
September 26th, 2005 at 11:27 amFrist my fry over this — which is fine with me if he is guilty — but if we’re going to go after public figures who are guilty of insider trading, let’s not forget about Hillary turning $1,000 into $100,000 on cattle futures.
Also, speaking of scandals, where is the coverage of Schumer’s DSCC staff illegally obtaining credit reports on the Lt. Gov. of Maryland?
September 26th, 2005 at 12:00 pm“Also, speaking of scandals, where is the coverage of Schumer’s DSCC staff illegally obtaining credit reports on the Lt. Gov. of Maryland?”
Um, you mean by the guys that were fired for doing just that? What’s the story – Democrats find misconduct and take appropriate action?
September 26th, 2005 at 12:15 pmI hope the Senator likes balogna sandwiches – 3 times a day!!!! And someone better remind him NOT to pick up the soap.
See you in 3 to 5, Billy Boy…..
September 26th, 2005 at 12:19 pmHey,Concerned Conservative, #13. See you are still trying to switch the monkey again, from Frist to Schumer. I appreciate you helping me out with the rightwing take here, but you really are reaching on Hillary: I mean, her trade took place way and hell and gone back in 1978 for Pete’s sake!
Correct me if I’m wrong, but don’t you think that throwing up Hillary over and over and over again is really tired? I mean, you are talking about the most costly and investigated Administrations in American history, which turned up absolutely nothing in the end but a dirty dress and a cigar that Bill may have later given to an unknowing republican to smoke. You got to admit, its a pretty funny thought to picture, say, Newt Ginginch or even Dick Cheney himself puffing away on it and old Bill leaning back in his chair, chuckling, Huh?
As for scandals, C.C., you might want to keep quiet there or someone might start talking about Tom DeLay and Karl Rove before we can get their big piles of shit covered over.
September 26th, 2005 at 12:39 pmConcerned crackpot. You should have read the responses yesterday, both of these items you posted were either discredited as irrelevant and unrelated. Republican propagandists sure a retarded lot as a whole!
So now back to the point.
Frist committed a crime that stole money from the shareholders.
Frist’s company is being investigated by the FBI for medicare fraud.
Frist received regular communications about the nature of his portfolio – a clear violation of laws and ethics.
Frist’s family ALSO insider traded with him as one would expect a family of crooks to do.
This isn’t the first time evidence has been presented in a court of law about the criminal nature of Frist and his ‘family business’. These guys are modern day mafia and common theives! They should all go to jail!
September 26th, 2005 at 1:19 pmWhen..not if…Frist is found guilty…he should be jailed along with his family….A blind trust..HA….corportate crime is rampant in this country…and must be stopped…how can the small investor trust any corporation…or an earnings report?
September 26th, 2005 at 1:27 pmThere a few really HARD right wing, Saudi tv watchers that are so frightened of Hillary that they will believe any Saudi news article. The truth just doesn’t matter. If the Saudis say it, it must be true.
I think their fear of women speaks volumes. Obviously they have deep maternal issues. Kind of like serial killers, actually. If you’ll notice, they share a lot.
September 26th, 2005 at 1:32 pmI thought that I had heard that somewhere in the middle of the time-line, Frist had switched “blind” trusts which allowed him to learn what was contained within. Is this true and missing?
September 26th, 2005 at 1:45 pmAlso, for Concerned- maybe the American people should spend the same amount that was spent on Whitewater and look at Bush, Frist, DeLay, etc. Think there might be a conviction coming out of those messes?
#5 Look who’s talking about not being smart enough to punch a hole in a card next to their choice… guess that goes for posting to the right discussion board, too, I-RIGHT-I?
September 26th, 2005 at 1:47 pmAmy,
The clarity you brought was blinding for all but the blind. Guess who’s blindest though ;)
September 26th, 2005 at 1:53 pmAs the record clearly shows, Bill Frist lied twice. Terri Schiavo was blind. His blind trust was not.
For more on Frist and the epidemic of GOP corruption, cronyism and patronage, see:
“Banana Republicans.”
September 26th, 2005 at 2:25 pmBesides Frist, maybe you could have a nice post with the picutes and things people are accused of, being investigated for, or are under indictment for.
You should include a nice picture and the event or events that are in question for each individual and maybe how they are even interconnected in some cases!
Be sure to include pictures and captions for:
Tom Delay, Jack Abramoff, Grover Norquist, Scooter Libby, Karl Rove, Bill Frist, Ralph Reed. At this point, some people are starting to realize that every branch of our government is involved and at that, every bit of it is Republican controlled.
Coincidence? I doubt it.
Maybe we should just send Mr. Abramoff on a long cruise, oh wait, that might not be such a good idea, people could die from such a fun time cruise.
September 26th, 2005 at 3:38 pmOf worse Mr. Frist is guilty; however qt this time in history we have the Republican Party in total control of the Congress so absolutely nothing will be done he is as the kids say, home free.
September 26th, 2005 at 3:47 pmBrett #20- good point, I would love to see the outcome of those investigations. But with no control in the House or Senate to get it going, it will never happen. We need to take back control in 06 then we will see many a perp-walk by many involved with and within this administration. Perhaps a few will be doing the p-w at the Hague for War Crimes.
September 26th, 2005 at 4:24 pmI think they should reopen the Harken Energy insider trading of bush, or the bribery investment of the Texas rangers which netted him 15million from an investment based on loaned money he had no assets to secure. Whitewater was smoke and mirror, look anywhere around bush and cheney and the flames from the wildfires of corruption and crime burn like a santa anna wind!
September 26th, 2005 at 6:34 pmWithout verifiable voting does any of this discussion even matter . ? .
September 26th, 2005 at 6:44 pmJust asking .
Allen-nnc: my thoughts exactly. Every time someone advises me that the ballot box is the cure for what ails our nation, my mental picture of unsecured computers sitting around just BEGGING for their vote totals to be altered immediatly pops up, and I despair.
Sad but true. We won’t have to worry about any Democrats misbehaving because there won’t be any Democrats in office if we don’t get the corporations out of our voting.
Frist is the same as all the other neocon Rethugs: if their lips are moving, they’re lying. Absolutely nothing new there.
September 26th, 2005 at 7:50 pmson of a bitch and put his dirty ass in jail.
September 26th, 2005 at 7:56 pmFrist had better hope to hell he never made any of these false claims to Tim Russert, or he’ll find himself Broussafied on national television.
Oh, wait…nevermind. Tim only wears his 4th Estate hat when the 2nd & 3rd estates tell him to.
September 26th, 2005 at 11:15 pmLook people, don’t be fooled by the AEI and Heritage trolls who always use the Clinton trump card to get you all chasing your own tails in outrage.
Haven’t you asked yourselves why the brownshirt Bushbots constantly bring up a Clinton when they’re cornered? It’s because it works just about everytime. You are so conditioned to defend, you don’t realize that you are being played for a sucker. There is no difference between a Clinton and a Bush. Hillary already sewed it up years ago. The Bush-Clinton cabal are controlled by the same group and they are crime and business partners. Hell, Hillary meets Rupert Murdoch for dinner every week yet FOX bashes her mercilessly. Why do you suppose that is? To make suckers out of you.
In 1999, both the Clinton’s and the Bush’s conspired to assassinate JFK jr. and Al Gore. waynemadsenreport.com ) The deal was already made. Hillary in 2008 for continued support.
I dare any of you to prove me wrong. Take the red pill.
September 27th, 2005 at 3:50 am“Also, speaking of scandals, where is the coverage of Schumer’s DSCC staff illegally obtaining credit reports on the Lt. Gov. of Maryland?â€
Um, you mean by the guys that were fired for doing just that? What’s the story – Democrats find misconduct and take appropriate action?
AActually, they have been suspended with pay.
September 27th, 2005 at 6:03 amI mean, you are talking about the most costly and investigated Administrations in American history, which turned up absolutely nothing in the end but a dirty dress and a cigar
The Whitewater investigation sent 8 people to prison, including a Governor still in office.
September 27th, 2005 at 6:05 amClinton,
Would that be the same guy who had one of the best booming economies in american history?
Who reduced poverty by millions?
Who was pursued relentlessly on a land deal where he LOST money?
Shall we compare that to old witless one?
Bush created and compounded one of the worst depressions in american history.
Bush drove millions into poverty.
Bush escaped an insider trading scandal and making 15 million on an 850k loan he wasn’t qualified to receive – and all off taxpayer dollars and cronyism.
The facts are there is no comparison. One was the great president – the other is the reincarnation of Herbert Hoover!
Republicans are born criminals and screw ups to the core!
September 27th, 2005 at 7:42 pm“The Whitewater investigation sent 8 people to prison, including a Governor still in office.”
Several of those were people who refused to lie.
Is that anything like the 450 indictments handed down under reagan for funding illegal wars with the CIA and drug money?
There’s one thing about republicans, when they’re crooked, they’re gangstas!
September 27th, 2005 at 7:44 pmOh and I forgot the rest of the correction to your swiftboat smear. God you guys are immoral bastards!
The Clintons were cleared of any wrongdoing in two reports subsequently prepared by the San Francisco law firm of Pillsbury Madison and Sutro for the Resolution Trust Corporation, which was overseeing the bankruptcy of Madison Guaranty.
Three associates, James McDougal, Susan McDougal, and Arkansas Governor Jim Guy Tucker were convicted on several federal charges NOT DIRECTLY RELATED to the Clintons in 1996.
Jim McDougal (the guilty party) did something wrong, and he paid the criminal price as one would expect.
But if you think the tens of millions of dollars of investigation were worth it to capture a $600,000 misappropriation of funds – you should instead look at the Neil Bush (GW’s brother) who was a DIRECTOR of the Silverado Savings and Loan. If there were a whitewater investigation it should have been this one, because these guys raided MILLIONS from the savings and loan.
Then again they crimes of the republicans are so huge and so numerous they could fill their own thread…
September 27th, 2005 at 7:51 pmAnd to think, “they” won elections on the basis of Morality….wow!! The truth shall set you free!!(or send you to jail, the the GOP’s case)
September 28th, 2005 at 9:58 pmKeep it clean guys and dolls. Leave the anatomy lessons to the childish trolls. This thread is almost mature to this point.
September 29th, 2005 at 10:46 pmThis timeline stuff is very enlightening. And there’s more than one way to skin this cat. Check out the HCA stock value timeline at my web site, clearthemist.blogspot.com. Fuel for the Frist fire. Vakil
October 4th, 2005 at 2:19 pmI am trying to find out how meny shares of stock, that I own in columba . com
December 25th, 2005 at 1:38 am