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  1. #21  
    Quote Originally Posted by NRG
    There is a few glaring differences, between the two. Not saying one is right or one is wrong. But if we look at it a little closer we can see that Frist has an insider track to both the company (HCA) and medicare policies. Therefore having an insight to matters, such as policies which will affect the company's(HCA) bottom line (i.e. Medicare cuts), which most of us will never have. He (Frist) should not have even known what was in the Trust due to it being a "Blind Trust". Judging from Frist's actions, he knew exactly what was in the trust.

    You just saying Frist should be subjected to the "same legal and media standards as Hillary" tells me you think hillary got nothing as punishment and nor should Frist. Is this what you are saying?

    P.S. I don't know much about this Hillary Cattle Future biz. If you got some info please post it. I don't care much about sources, so post whatever rabid right sites you may read, so I can get an understanding of this. As far as I know this took place back in 1979.
    On Hillary:
    http://www.findarticles.com/p/articl...47/ai_16709018
  2. #22  
    Quote Originally Posted by clulup
    It was investigated, but nothing illegal was found:Making profit with futures isn't illegal, just in case... she wasn't even accused of making use of insider information.
    Of course she wasn't.

    That's the whole point.
  3. #23  
    Quote Originally Posted by clulup
    What are you talking about? "Some of the most sensitive intelligence documents this nation has ever produced" - one can almost hear the dramatic music in the background... only your description does not connect with reality:
    You have mentioned Berger's singularly sinister crime x times on TC, but if what he did was really so bad, why wasn't he punished severely? Were all the judges involved left wing lunatics, brain-washed by the Clinton administration (long gone at the time) and the hyper-liberal media?
    What I am saying is that are there is a double standard. What I am saying is that if I stole anything 1/1,000,00th as sensitive as what Berger walked off with my *** would be in Leavenworth.

    Why wasn't he punished? Because some pigs are more equal that others, and the DC class takes care of its own.
  4. NRG
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       #24  
    Quote Originally Posted by 1911sforever
    Thank you. Reading it now.
  5. #25  
    Quote Originally Posted by Insertion
    That statement in bold is why I'm out of these threads anymore. Everything has to be a "rabid right wing site" to you, just because you don't agree with something. Give me a break.

    t2GungHo, need I say more? So predictable...
    I know. I saw the other day when NRG started this thread and he updated it with the 2nd post that things would take off. My personal belief is nothing will come about with this. Mr. Frist is TOO smart to get caught doing insider trading (and I think its actually a difficult case to prove without anothers testimony...whole INTENT issue I think.)

    However, my good Munk friend, you didnt point out 1911's comment when you pointed out NRG's?

    Quote Originally Posted by 1911sforever
    Totally agreed. The sentence that Sandy Berger received for STEALING and DESTROYING some of the most sensitive intelligence documents this nation has ever produced just shows the depth of double stanard that extists in this country.
    Dare I say we all have some biases

    BTW-I could be misinterpreting the new avatar but is that Sadaam saying 'I don't have any WMD's'
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  6. #26  
    Quote Originally Posted by t2gungho
    I know. I saw the other day when NRG started this thread and he updated it with the 2nd post that things would take off. My personal belief is nothing will come about with this. Mr. Frist is TOO smart to get caught doing insider trading (and I think its actually a difficult case to prove without anothers testimony...whole INTENT issue I think.)
    It is rare when someone of that stature ever gets convicted of anything serious. Who was last last Majority/Minority Leader/Whip, Speaker etc., ever carted off to Federal prison?
    Quote Originally Posted by t2gungho
    However, my good Munk friend, you didnt point out 1911's comment when you pointed out NRG's?

    Dare I say we all have some biases
    You could say that. The only reason I didn't point it out was because Berger did plead guilty. I think we all know he stole....errr, I mean "accidentally" placed a few pieces of paper down his pants.
    Quote Originally Posted by t2gungho
    BTW-I could be misinterpreting the new avatar but is that Sadaam saying 'I don't have any WMD's'
    No, it's ol' Baghdad Bob, Comical Ali...with a slight Munk meets Windows Mobile Treo twist. (note the new signature)
    MaxiMunK.com The Forum That Asks, "Are You Not Entertained?"

    Remember: "Anyone that thinks the Treo should just work right out of the box, shouldn't own a Treo..."
  7. #27  
    Quote Originally Posted by Insertion
    You could say that. The only reason I didn't point it out was because Berger did plead guilty. I think we all know he stole....errr, I mean "accidentally" placed a few pieces of paper down his pants.
    Just remember though, people plea guilty or no contest all the time when the risk of a successful prosecution and the time to be served is great.

    Quote Originally Posted by Insertion
    No, it's ol' Baghdad Bob, Comical Ali...with a slight Munk meets Windows Mobile Treo twist. (note the new signature)
    LOL, I just saw the pic and didnt bother to read your dissertation of a signature. (It is funny though. )
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  8. NRG
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       #28  
    Update:

    Source: The Street

    Frist Says He 'Acted Properly'

    By TSC Staff
    9/26/2005 5:34 PM EDT


    Sen. Bill Frist defended himself Monday against insider trading allegations linked to his sale of HCA (HCA:NYSE - commentary - research - Cramer's Take) shares.

    In his first public comments on the issue, Frist said he "acted properly" in the transaction. The Tennessee Republican made the remark late Monday in a press conference. Federal prosecutors last week said they would look into Frist's sale of HCA shares just before the hospital chain warned in July of weak second-quarter numbers, driving its stock lower.


    Monday's comments came as the new chief of one of the agencies investigating the sales, Securities and Exchange Commission Chairman Christopher Cox, recused himself from the probe. Cox, a former California representative and onetime contributor to a Frist election campaign, cited the need to avert what he called "any appearance of impropriety."

    Frist has previously denied having any knowledge about problems at the company that prompted his sale, and has said he instructed a trustee to sell the shares to avoid a conflict of interest. A spokesman for Frist's office said last week that the Senate majority leader had "no information about the company or its performance that was not available to the public" at the time of the transaction. The spokesman stressed that Frist relies on a blind trust to manage his investments.

    But he also conceded that Frist personally asked the trust in mid-June to sell off his HCA holdings and then left the trust in charge of carrying out those orders. Some observers have questioned how blind that trust really is, given that Frist himself is apparently calling some of the shots.

    -snip-
  9. NRG
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       #29  
    Formal investagation now ordered. The hits keep coming for the GOP. We will see what happens here but I have a feeling that insider trading is going to be hard to prove. Also the stock only went down a little as far as I know.

    Source: Bloomberg

    Frist Faces Heat as SEC Orders Formal Investigation (Update2)
    Sept. 28 (Bloomberg) -- U.S. Senate Majority Leader Bill Frist faces a near-term ordeal unwelcome to anyone, particularly an ambitious politician: an official probe into his personal financial dealings by the U.S. Securities and Exchange Commission.

    The SEC authorized a formal order of investigation of Frist's sale in June of HCA Inc. shares, people with direct knowledge of the inquiry said yesterday. The order allows the agency's enforcement unit to subpoena documents and compel witnesses to testify, said the people, who asked not to be identified because the order hasn't been made public.

    ``This turns the flame up under the kettle and keeps the water boiling,'' said Stuart Rothenberg, editor of the independent Rothenberg Political Report in Washington. ``It means he's going to continue to be peppered with questions about this stock sale, and no politician wants to be questioned about things like that.''

    -snip-
  10. #30  
    Quote Originally Posted by NRG
    Formal investagation now ordered. The hits keep coming for the GOP. We will see what happens here but I have a feeling that insider trading is going to be hard to prove. Also the stock only went down a little as far as I know.

    the stock took a BIG hit



    more importantly it was being simultaneusly sold by LARGE numbers of insiders in the weeks before the bad news was released to the public.

    Frist had 100's (??) of millions in HCA stock at risk in his "BLIND" trust --

    He wasn't even supposed to know what stock it held -- never mind being able to give it strategic/tactical guidance. (or maybe the sale instruction's timing was simply a lucky coincidence ... ???)

    Ya, Martha was a bad grl ...
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  11. #31  
    maybe he will try to be less than truthful to the investigators (like Martha)

    HCA says SEC upgrades Frist stock probe

    (Reuters) - Securities regulators have issued a formal order of investigation in a probe of trading in the shares of hospital operator HCA Inc., the company said on Thursday.

    On Wednesday, sources familiar with the matter said the Securities and Exchange Commission has changed its probe of HCA share sales by Senate Majority Leader Bill Frist to formal status from informal, granting investigators subpoena power...

    Authorities are looking into Frist's recent sale of shares in HCA -- co-founded by the Tennessee Republican's father and brother -- in transactions completed just days before HCA's stock price fell on a disappointing July 13 profit outlook.

    By granting subpoena power to investigators, the SEC was moving to obtain telephone and brokerage records often key to insider trading probes, lawyers said.

    HCA said last week it had received a subpoena from the federal prosecutor for the Southern District of New York, seeking documents believed to be related to the Frist matter...
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  12. #32  
    Heard on MSNBC on Satellite radio (not a news report but as an interview) that there certainly is enough to warrent an investigation, but with several big challenges to get a verdict. The big one was with the claim he dumped the stock with inside knowledge that the next quarter was going to be bad. But his first inquired about the legality of dumping his stocks with the trustees prior to any knowledge within the company of what the next quarter was going to be.

    The charge that he knew other higher ups were dumping stock was already public knowledge when Frist sold his.

    I am all for....if he is guilty then he needs to be held accountable. But I think either way, it is going to be a hard case to get a verdict on.
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    #33  
    Quote Originally Posted by HobbesIsReal
    Heard on MSNBC on Satellite radio (not a news report but as an interview) that there certainly is enough to warrent an investigation, but with several big challenges to get a verdict. The big one was with the claim he dumped the stock with inside knowledge that the next quarter was going to be bad. But his first inquired about the legality of dumping his stocks with the trustees prior to any knowledge within the company of what the next quarter was going to be.

    The charge that he knew other higher ups were dumping stock was already public knowledge when Frist sold his.

    I am all for....if he is guilty then he needs to be held accountable. But I think either way, it is going to be a hard case to get a verdict on.
    Agreed, hold them accountable if they are gound guilty.
  14. NRG
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       #34  
    Update. Frist to be questioned.


    Source: Reuters

    Frist subpoenaed in probe of stock sales: WPost
    Thu Oct 13, 2005 1:00 AM ET

    WASHINGTON (Reuters) - Senate Majority Leader Bill Frist has been subpoenaed to turn over personal records in an investigation into possible insider trading, The Washington Post reported on Thursday.

    The Securities and Exchange Commission issued the subpoena within the past two weeks, the newspaper reported, citing sources familiar with the probe.

    -snip-

    Frist aides previously said he had been contacted by regulators but did not mention that he had received a formal request for documents, The Washington Post said.

    Authorities are looking into Frist's recent sale of shares of hospital operator HCA Inc., co-founded by Frist's father and brother. The sales took place just days before HCA's stock price fell on a disappointing July 13 profit outlook.

    -snip-
  15. #35  
    I still don't know if anything will really happen.
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  16. #36  
    Quote Originally Posted by t2gungho
    I still don't know if anything will really happen.

    I expect that Frist will plea bargain to a civil infraction, and resign in disgrace sometime in the next 6 months.

    he will tearfully decry the "politicized" maw that is "Washington", and declare his intention to return to medicine -- a place where he is truly able to help people...


    Frist Accumulated Stock Outside Trusts

    Over a period of four years, Senate Majority Leader Bill Frist accumulated stock in a family founded hospital chain that produced tens of thousands of dollars in income, all outside the blind trusts he created to avoid a conflict of interest ...

    The stock was held in a family partnership largely controlled by Frist's brother
    , Thomas, who founded HCA Inc...

    Frist, R-Tenn., has long maintained that he could vote on health care legislation and still own HCA stock because he placed his shares in Senate-approved blind trusts.

    ...Frist ordered the stock sold June 13, and all sales were completed by July 1. The value of HCA stock peaked on June 22 and then gradually declined. On July 13, it dropped 9 percent.

    Reports to the SEC showed insiders sold about 2.3 million shares of HCA stock worth at least $112 million from January through June 2005.

    ...earned him $265,495 in dividends and other income over the four years.


    Edmond M. Ianni, a former Wilmington, Del., bank executive who established blind trusts for corporate executives, questioned why the senator's brother was able to manage assets "when the whole purpose of a blind trust is to ensure lack of not only conflict of interest but appearance of conflict of interest?"

    ...HCA is the nation's largest for-profit hospital chain. Thomas Frist is its chairman emeritus.

    Thomas Frist did not return repeated phone calls to his office at HCA seeking comment.

    ...The value of all the transferred shares, calculated on the dates they went into the Senate trusts, was between $775,000 and $1.57 million, according to letters the trustees sent to Frist and the Senate. That stock was on top of millions of dollars in various investments Frist already owned in the Senate blind trusts.

    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...
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  17. NRG
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       #37  
    Quote Originally Posted by t2gungho
    I still don't know if anything will really happen.
    None of us know what will happen. I am just providing updates to the situ.
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