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SEC Initiates Formal Investigation of Frist

by TChris

Sources report that the SEC yesterday "authorized a formal order of investigation of [Sen. Bill] Frist's sale in June of HCA Inc. shares."

The order allows the agency's enforcement unit to subpoena documents and compel witnesses to testify, said the [sources], who asked not to be identified because the order hasn't been made public.

Whether or not Frist's suspiciously timed stock sale was based on an insider's knowledge (background here and here), this isn't a good development for a politician who plans to run for president.

"This turns the flame up under the kettle and keeps the water boiling," said Stuart Rothenberg, editor of the independent Rothenberg Poltical 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."

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  • Re: SEC Initiates Formal Investigation of Frist (none / 0) (#1)
    by scarshapedstar on Sat Dec 17, 2005 at 01:04:25 PM EST
    Sweet, sweet schadenfreude.

    Re: SEC Initiates Formal Investigation of Frist (none / 0) (#2)
    by desertswine on Sat Dec 17, 2005 at 01:04:25 PM EST
    Aw, it's not so bad, maybe he can share a cell with DeLay and Duke Cunningham.

    Re: SEC Initiates Formal Investigation of Frist (none / 0) (#3)
    by Sailor on Sat Dec 17, 2005 at 01:04:26 PM EST
    So Martha gets 10 months for $40k. Wow, at that rate DeLay's $7Mil should be LWOP!

    Re: SEC Initiates Formal Investigation of Frist (none / 0) (#4)
    by john horse on Sat Dec 17, 2005 at 01:04:26 PM EST
    Frist, Delay, Rove, Safavian, Abramoff, Enron, Halliburton, Mike Brown. How many more years of Republican rule can this country afford? How much is there left for them to rob? Don't forget my friends that we will all someday be footing the bill for their incompetence, dishonesty, and greed.

    Re: SEC Initiates Formal Investigation of Frist (none / 0) (#5)
    by Talkleft Visitor on Sat Dec 17, 2005 at 01:04:27 PM EST
    John: "Don't forget my friends that we will all someday be footing the bill..." I'm certain that Ms. Sheehan and many other Gold Star mothers would be HAPPY to pay out the nose in taxes and stand in the Bush Depression Bread Lines, sleep under Bush Blankets (newspapers), and beg door to door -- if they could have their sons back. The 'we will all someday' has already begun for some.