Eat At Joes

Just a regular Joe who is angry that the USA, the country he loves, is being corrupted and damaged from within and trying to tell his fellow Americans the other half of the story that they don’t get on the TV News.

Location: Chicago, Illinois, United States

Monday, October 24, 2005

GOP Senate Leader Bill Frist Lied to America about Stocks and Insider Trading!

It is coming out that Senate Leader Republican Bill Frist lied to the American People including his own constituents when he told us that his stocks were in “totally blind” trusts and he had no knowledge of what stocks he owned. It turns out that he was kept informed of his stocks and their value and frequently issued buy and sell orders which violates the whole idea of a “blind trust” instituted so that an elected official can be impartial when making laws that affect his stock portfolio. Letters showing that Frist was kept informed on his stocks’ performance have now come to light. Frist told the American people that he didn’t know what stocks he owned, but the letters show that he was lying.

“Since 2001, the trustees have written to Frist and the Senate 15 times detailing the sale of assets from or the contribution of assets to trusts of Frist and his family. The letters included notice of the addition of HCA shares worth $500,000 to $1 million in 2001 and HCA stock worth $750,000 to $1.5 million in 2002. The trust agreements require the trustees to inform Frist and the Senate whenever assets are added or sold.”

What we have here is *NOT* a blind trust as Frist told America but fully managed portfolio with complete knowledge of its owner. FRIST LIED!

Now we have evidence that Frist participated in insider trading when he sold all his stock in his family’s company, HCA, just before the stock price dropped netting him a handsome profit.

“Last week, Frist told reporters that he is ‘absolutely confident in the outcome’ of the inquiries by the Justice Department and the Securities and Exchange Commission because he "acted properly at every point." He declined to address specifics about the investigations but said he is providing information as quickly and fully as possible.”

Naturally, both the Justice Department and the SEC are currently under Republican control so he is likely right that they will not prosecute him and will whitewash the whole issue. Back when Bush Sr. was President, Bush Jr. was on the board of Harkin Oil. He was told that the stock price was about to drop due to low earnings and that the public didn’t know so he was *NOT* to sell his stock. He sold millions of dollars worth of the stock anyway. Another incidence of insider trading. Because the SEC and Justice Dept. during his father’s administration was also under Republican control they whitewashed Bush Jr.’s insider trading crime and he didn’t end up in prison unlike Martha Stewart who lacked his political ties to bail her out.

Frist has the political connections to keep him out of jail, too.

Nice to know that our nation is led by crooks who can bend the rules to keep out of a prison cell.

I want my country back!



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