Wednesday, September 28, 2005

Bill Frist: Dirtbag.

Has anyone noticed what's going on with Billy Frist these days?

A little background. He's:
-the Senate majority leader from Tennessee
-a liar
-a crook
-the guy who "diagnosed" Terri Schiavo based on her videotape
-a dirtbag who should go to jail

See, Frist has a "blind trust" for many of his investments. The idea is to let someone else manage his money without any input or reporting to Billy, so any conflicts of interest can be avoided.

The problem is, Billy's trust was as blind as Saddam's WMD's were existent. That is; not at all.

The AP reports Frist received regular updates from his trustee. He also initiated a stock sale of his daddy's old company, just weeks before some bad news went public and the stock plummeted.

The funny part is, Billy Boy admits he directed the sale. "I had no information about HCA or its performance that was not publicly available when I directed the trustees to sell the stock..."

So much for blind.

So why does any of this matter? Martha Stewart.

Poor old Martha went and saved herself about $50k when she sold a company she had no ties to, other than holding some stock. Martha's problem was that she lied to investigators about the sale, and she went to jail for it.

Billy Boy saved himself millions by directing this sale, before the company stock tanked. Not only does it smack of insider trading, it proves he already broke rules by engaging his "blind" trust.

At least the SEC is looking into it.

The end result of this could be good for all of us, if the repercussions are strong enough to knock Billy Boy out of contention for President in '08.

Yay for America.

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