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Questions of conflict of interest raised

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posted on Oct, 12 2005 @ 03:00 PM
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Frist accumulated stock in family company

Senate Majority Leader Bill Frist accumulated stock in a family founded hospital chain that produced tens of thousands of dollars in income.

He has been investigated not because is illegal to have stock in the family company but federal prosecutors and the Securities and Exchange Commission are investigating Frist's sale of HCA stock from his blind trusts.

It seems that some of his trades are conflicting with perhaps insiders’ information. Because Frist is chairman emeritus of HCA, the HCA is the nation's largest for-profit hospital chain this creates conflicts of interest when laws and regulations are passed.



With his background as a heart surgeon as well as his position as majority leader, Frist has been at the forefront of legislation that would affect the hospital chain. Among the issues: a Medicare prescription drug benefit and limits on medical malpractice lawsuits.

Frist kept HCA stock in Bowling Avenue Partners and the Tennessee blind trust -- but outside the Senate-approved trusts -- between 1998 and 2002.


Obviously this is not looking very nice for Frist as the senate majority leader, His investments in Nashville-based HCA are being investigated by federal prosecutors.

It must be nice to have the biggest lobbyist of a company as the majority leader in the senate. Corporate leaders are taking over the government right in front off our eyes.

www.cnn.com...




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