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Well-known member
Jul 4, 2005
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This appeared in Frist's hometown newspaper. Excerpts; link below; my emphasis.

"Senate Majority Leader Bill Frist is pushing a "healthy America" plan that includes tax breaks to help the poor buy insurance and legal limits on excessive jury awards that Frist says hurt access to care.

Frist's plan would do something else besides help the poor and reduce what he says are frivolous lawsuits.

It would help make money for HCA Inc., the Nashville-based hospital company that's been the foundation of the Frist family's wealth."

"Until this summer, Frist owned shares in HCA in so-called "blind trusts", which are intended to keep the holder at arms length to avoid conflicts of interest. However, this summer he gave the order to sell all his HCA stock, saying he wanted to settle the conflict-of-interest issue.
But the order to sell caused its own problems. After trading at near-record prices, the company issued an earnings warning a month after Frist's order to sell, and the stock dropped 9%, raising questions of whether Frist was tipped off.
Company insiders also exercised their options and sold large amounts of HCA stock in the months and weeks before the profit warning.
Soon after Frist's sale was disclosed in September, the Securities and Exchange Commission and a U.S. attorney in New York began investigations. Frist has denied selling his shares based on illegal tips from company insiders."

"Before unloading the stock, Frist told interviewers he didn't know whether he held shares in the company. "As far as I know, I own no HCA stock," he said on the cable news channel CNBC in 2003.
Recent news reports seem to contradict those statements, however, showing that records filed with the Senate show he received a number of letters over the years informing him about shares in the company held in his blind trusts."


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