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  1. NRG
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       #1  
    I doubt this will turn out to be much but, here is the info for you folks anyway.

    Source: MarketWatch


    HCA gets subpoena to produce documents (HCA)
    By Michael Baron
    NEW YORK (MarketWatch) -- HCA Inc. (HCA) said Friday it has received a subpoena from the U.S. Attorney's office for the Southern District of New York. The Nashville, Tenn., hospital operator said the subpoena calls for the production of documents, and HCA believes it relates to the sale of HCA stock by Sen. William H. Frist. It plans to cooperate fully with the subpoena. The stock closed Thursday at $45.90, down 3.2%.
    and

    Source: NY Times

    Agency Calls on Frist About Timing of Stock Sale
    By DAVID D. KIRKPATRICK
    Published: September 23, 2005
    WASHINGTON, Sept. 22 - A spokesman for Senator Bill Frist, Republican of Tennessee, said Thursday that the Securities and Exchange Commission had contacted Mr. Frist's office about the sale in June of his shares in HCA, the giant hospital company founded by his family.

    Mr. Frist, whose brother Thomas F. Frist Jr. is chairman emeritus and the largest individual shareholder of the company, disclosed earlier this week that on June 13 he asked the managers of blind trusts controlling many of his assets to sell any of his remaining shares in HCA.

    The sales occurred just as the share price reached a new peak and shortly before the company's announcement in mid-July of lower-than-expected quarterly results sent the price tumbling.

    Mr. Frist, the Senate majority leader and a potential presidential candidate, initially placed more than $10 million in shares of the company in his trusts, but his spokesman said he could not determine how much remained at the time of the sale.

    Mr. Stevenson, the spokesman, said the securities commission had contacted Mr. Frist after news organizations published articles this week raising questions about the profitable timing of the sale. Only a few such contacts lead to formal investigations or penalties.

    -snip-
    and

    Source: MarketWatch

    9:09am 09/23/05 Feds seek records for Frist stock sales - MarketWatch
    8:25am 09/23/05 HCA gets subpoena to produce documents - Michael Baron
    8:17am 09/23/05 [HCA] HCA TO COOPERATE FULLY WITH U.S. ATTORNEY'S OFFICE
    8:16am 09/23/05 [HCA] HCA SUBPOENAED BY U.S. ATTORNEYS OFFICE TO PRODUCE DOCUMENT
    8:17am 09/23/05 [HCA] HCA SEES SUBPOENA RELATING TO SALE OF STOCK BY SENATOR FRIST
  2. NRG
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       #2  
    Update: Not one but two investagations!


    Source: MSNBC

    Bill Frist now facing two investigations
    Senate Majority Leader allegedly disobeyed blind trust rules


    Updated: 4:17 a.m. ET Sept. 25, 2005
    WASHINGTON - Blind trusts are designed to keep an arm’s-length distance between federal officials and their investments, to avoid conflicts of interest. But documents show that Senate Majority Leader Bill Frist knew quite a bit about his accounts from nearly two dozen letters from the trust administrators.

    Frist, R-Tenn., received regular updates of transfers of assets to his blind trusts and sales of assets. He also was able to initiate a stock sale of a hospital chain founded by his family with perfect timing. Shortly after the sale this summer, the stock price dived.

    A possible presidential contender in 2008, Frist now faces dual investigations by the U.S. attorney for the Southern District of New York and the Securities and Exchange Commission into his stock sales.

    Sheldon Cohen, who was the trustee for Democrat Walter Mondale’s blind trust when he was vice president, and drafted Democrat Lyndon Johnson’s blind trust for Johnson’s presidency, said that in the executive branch,“You don’t tell them how it’s composed.” He said Frist, like any federal official, “absolves himself of conflict by not knowing what he owns.”

    Cohen said that when Mondale left office, he told Cohen to sell his assets. “He had no idea what I was holding,” the Washington attorney and former Internal Revenue Service commissioner said.

    -snip-
  3. #3  
    Talk about conflict of interest. No one should be exempt from insider trading violations specially goverment or business leaders.
  4. #4  
    Quote Originally Posted by ronbo2000
    Talk about conflict of interest. No one should be exempt from insider trading violations specially goverment or business leaders.

    its so unfair.

    Pretty soon people are going to compare frist to Martha.

    He's one of the most powerful men in this country. His family owns one of the biggest health care companies in the country. He's one of the richest people in the Senate.

    Martha was an uppity btch with democratic tendencies who tried to save some $70,000 via a stock tip in a company she had no control over or influence in. Frist's family owns HCA -- and his coincidental stock sale only saved him millions of dollars.

    Rich powerful men are allowed perks like this -– everyone knows that.

    And who wants to see a post-prison Frist TV cooking show anyway ....
    Last edited by BARYE; 09/26/2005 at 08:03 AM.
    755P Sprint SERO (upgraded from unlocked GSM 650 on T-Mobile)
  5. #5  
    Quote Originally Posted by ronbo2000
    Talk about conflict of interest. No one should be exempt from insider trading violations specially goverment or business leaders.
    Yes. Hillary should have been prosecutred for her cattle futures trades.
  6. NRG
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       #6  
    Quote Originally Posted by 1911sforever
    Yes. Hillary should have been prosecutred for her cattle futures trades.
    So you are saying Frist should be prosecuted if it is found he indeed did do insider trading or are you saying "look dems do it"?
  7. #7  
    I am saying Frist should be subjected to the same legal and media standards that Hillary was.
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    #8  
    ALL should be prosecuted if they are involved in insider trading. Frist, Martha, Hillary, all. We do not need to go on a witch hunt, but we do not need to turn a blind eye either.
  9. #9  
    I think he is a smart and thinking man . He will come out clean . If he is guilty , he will be treated as others.
    I am sure he palnned his move .
    No one at his position, would think about doing insider trading,specially after Martha Stewart.
  10. #10  
    Quote Originally Posted by cardio
    ALL should be prosecuted if they are involved in insider trading. Frist, Martha, Hillary, all. We do not need to go on a witch hunt, but we do not need to turn a blind eye either.
    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.
  11. #11  
    Quote Originally Posted by 1911sforever
    Yes. Hillary should have been prosecutred for her cattle futures trades.
    It was investigated, but nothing illegal was found:
    Cattle futures
    In 1979, Hillary Rodham Clinton's trades in cattle futures contracts generated criticism regarding conflict of interest. Her initial $1,000 investment generated $100,000 (a 10,000% return) http://www.washingtonpost.com/wp-srv...tr940527.htmby the time she ceased trading ten months later. Chicago Mercantile Exchange records indicated that $40,000 of her profits came from larger trades ordered by someone else and shifted to her account, according to Leo Melamed, the former chair of the Chicago Mercantile Exchange.

    Her lawyer and friend, James Blair, an experienced futures trader, directed her trading. According to records, the commodities broker that facilitated the trades allowed Clinton to maintain her positions even though she did not have enough money in her account to cover her activity. He reportedly did so because her friend Blair was a good client. The firm was later fined for violating Chicago Mercantile Exchange rules governing margin trading. However, Melamed concluded that Clinton had not broken any rules.

    Blair was outside counsel to Tyson Foods. While Hillary Clinton said she made the decisions, Blair made most of the trades. Her situation was not unique for 1979, when large profits and losses were common in the volatile futures market.http://www.reference.com/browse/wiki...Rodham_Clinton
    Making profit with futures isn't illegal, just in case... she wasn't even accused of making use of insider information.
    “Reality is that which, when you stop believing in it, doesn't go away.” (Philip K. ****)
  12. NRG
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       #12  
    Quote Originally Posted by 1911sforever
    I am saying Frist should be subjected to the same legal and media standards that Hillary was.
    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.
  13. NRG
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       #13  
    Quote Originally Posted by Mtreosexual
    I think he is a smart and thinking man . He will come out clean . If he is guilty , he will be treated as others.
    I am sure he palnned his move .
    No one at his position, would think about doing insider trading,specially after Martha Stewart.
    Not saying he is guilty, but how did he know what was in his trust? Or for that matter why did he sell before the report came out? In the coming weeks we will see what develops. It will be interesting to how this unfolds.
  14. NRG
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       #14  
    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.
    Pointing fingers again. :tsk:
  15. #15  
    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.
    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:
    "On July 19, 2004, it was revealed that the U.S. Justice Department was investigating Berger for taking as many as fifty classified documents, in October 2003, from a National Archives reading room prior to testifying before the 9/11 Commission. The documents were commissioned from Richard Clarke about the Clinton administration's handling of millennium terror threats. When initially questioned, Berger claimed that the removal of top-secret documents in his attache-case and handwritten notes in his pants and jacket pockets was accidental. He would later, in a guilty plea, admit to deliberately removing materials. Berger left the John Kerry campaign shortly after the incident became public. Some suggested that Berger's removal of the documents constituted theft and moreover had serious national security implications, while others claimed that the documents were taken, only drafts and all were flattering to Clinton and Berger (relating to the failed 2000 millennium attack plots). Noel Hillman, chief of the Justice Department's public integrity section, asserted that the documents Berger removed were only copies, and government sources have said that no original material was taken. [1]

    On April 1, 2005, in connection with the documents investigation, Berger pled guilty to a misdemeanor charge of unauthorized removal and retention of classified material. Under a plea agreement, U.S. attorneys recommended a fine of $10,000 and a loss of security clearance for three years. However, on September 8, U.S. Magistrate Judge Deborah Robinson increased the fine to $50,000 at Berger's sentencing. Robinson stated, "The court finds the fine [recommended by government prosecutors] is inadequate because it doesn't reflect the seriousness of the offense."
    http://en.wikipedia.org/wiki/Sandy_Berger
    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?
    “Reality is that which, when you stop believing in it, doesn't go away.” (Philip K. ****)
  16. #16  
    Quote Originally Posted by NRG
    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.
    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...
    MaxiMunK.com The Forum That Asks, "Are You Not Entertained?"

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  17. NRG
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       #17  
    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...
    And yet here you are. You would not be here if you did not have fun. And no not everything is rabib right to me. There are middle of the road sources that I request during other debates, this one I don't care cause I am desperate for more info on the Hillary cattle biz. I never said that I don't agree that Hillary may be guilty of shady futures transactions. So Insertion I say to YOU, give me a break.
  18. cardio's Avatar
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    #18  
    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...
    Ahh, forget about the 700W lauch, the wait is finally over for the rumored munk avator change,
  19. #19  
    Quote Originally Posted by NRG
    And yet here you are. You would not be here if you did not have fun. And no not everything is rabib right to me. There are middle of the road sources that I request during other debates, this one I don't care cause I am desperate for more info on the Hillary cattle biz. I never said that I don't agree that Hillary may be guilty of shady futures transactions. So Insertion I say to YOU, give me a break.
    Actually, I don't find it fun. Too much Us against Them, and very little of anything else.

    "Your guy did it"...
    "So? Yours did it too!"



    If you hadn't brought the rabid remark in, it would have been fine. Would actually shows a glimmer of hope that you might be open to something. Now it just appears you've already dismissed it as Right Wing Propaganda.
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    Remember: "Anyone that thinks the Treo should just work right out of the box, shouldn't own a Treo..."
  20. NRG
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       #20  
    Quote Originally Posted by Insertion
    Actually, I don't find it fun. Too much Us against Them, and very little of anything else.

    "Your guy did it"...
    "So? Yours did it too!"
    Agreed


    Quote Originally Posted by Insertion
    If you hadn't brought the rabid remark in, it would have been fine. Would actually shows a glimmer of hope that you might be open to something. Now it just appears you've already dismissed it as Right Wing Propaganda.
    Then it is my fault, I did not make myslef clear in my prior statement. What I meant to convey was that I did not care how far on the ends of the political spectrum the info came from. Be it the middle, the far rabib right, or just a right leaning viewpoint. Does this clear it up?
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