Sources: Frist subpoenaed in probe of stock sales

gldstwmn · #1 10-13-2005, 08:33 PM

Frist spokesman says SEC inquiries are routine

Thursday, October 13, 2005; Posted: 6:03 p.m. EDT (22:03 GMT)

WASHINGTON (Reuters) -- Senate Majority leader Bill Frist has been subpoenaed by the U.S. Securities and Exchange Commission to turn over records in a probe of possible insider trading, sources close to the case said Thursday.

Authorities are looking into Frist's recent sale of shares of hospital operator HCA Inc., co-founded by his family. The sales were completed just days before HCA's stock price fell sharply on a disappointing July 13 profit outlook.

Bob Stevenson, spokesman for the Tennessee Republican, said subpoenas are routine in SEC inquiries.

"Senator Frist has been fully cooperating with the authorities conducting the inquiries and will continue to do so. ... The issuance of a subpoena would be an expected and normal part of that process," Stevenson said in a statement.

An SEC spokesman declined to comment.

The subpoena came as questions swirled around Frist's management in recent years of his investments in HCA and other companies through a collection of blind trusts.

Liberal activist group Common Cause Thursday urged the Senate Ethics Committee to investigate "whether Senator Frist violated Senate ethics rules by directing trustees to sell stock held in a blind trust."

The subpoena issuance was first reported by The Washington Post, The Wall Street Journal and The New York Times.

The Post, citing anonymous sources, said Frist was expected to testify under oath about what he knew about HCA's finances in the weeks ahead of the stock sales.

Frist, viewed widely as a potential 2008 presidential candidate, said last month he had no inside information about the coming profit forecast when he began taking steps in April that led to the stock sale completed on July 8.

"An examination of the facts will demonstrate that Senator Frist acted properly. His only objective in selling the stock was to eliminate the appearance of a conflict of interest," Stevenson said.

"He had no information about HCA or its financial performance that was not publicly available when he directed his trustees to sell the stock," he said.

strandinthewind · #2 10-13-2005, 09:04 PM

and Rove testified again today and DeLay's phone records were subpoenaed. The plot is thickening.

As for Frist, ever notice how no one in his position ever loses money in these stock deals - yet, when Martha and Hillary do a little suspected insider trading all Hell breaks losse

dissention · #3 10-14-2005, 12:07 AM

Quote:

Originally Posted by strandinthewind

and Rove testified again today and DeLay's phone records were subpoenaed. The plot is thickening.

Rove testifies tomorrow.

Miller testified again yesterday.

strandinthewind · #4 10-14-2005, 12:13 AM

Quote:

Originally Posted by dissention

Rove testifies tomorrow.

Miller testified again yesterday.

Rove is in the hot water - not two ways about it.

irishgrl · #5 10-14-2005, 07:01 AM

Quote:

Originally Posted by strandinthewind

Rove is in the hot water - not two ways about it.

(

doing the happy dance over here!!!)

btw: Jason, are you Italian? your sig is interesting

whatsamotta you, HEY! whaddya think ya do, gotta no respect...Why you look-a so sad, Itsa not-a so bad--Ah, SHADDUP YO FACE!!!

strandinthewind · #6 10-14-2005, 01:10 PM

Quote:

Originally Posted by irishgrl

(

doing the happy dance over here!!!)

btw: Jason, are you Italian? your sig is interesting

whatsamotta you, HEY! whaddya think ya do, gotta no respect...Why you look-a so sad, Itsa not-a so bad--Ah, SHADDUP YO FACE!!!

LOL - I just make love like one

The sig. is from the movie Legally Blonde

dissention · #7 10-14-2005, 01:20 PM

Quote:

Originally Posted by strandinthewind

LOL - I just make love like one

The sig. is from the movie Legally Blonde

I love Reese Witherspoon, she doesn't get the respect she deserves for being a great actress. Election (PICK FLICK!) is one of the best movies ever made and she is beyond words in it.

"You're gonna pay for my poster!!"

SuzeQuze · #8 10-14-2005, 02:00 PM

Quote:

Originally Posted by strandinthewind

and Rove testified again today and DeLay's phone records were subpoenaed. The plot is thickening.

As for Frist, ever notice how no one in his position ever loses money in these stock deals - yet, when Martha and Hillary do a little suspected insider trading all Hell breaks losse

Yes, I have noticed. What are Martha's politics?

dissention · #9 10-14-2005, 02:08 PM

Quote:

Originally Posted by SuzeQuze

Yes, I have noticed. What are Martha's politics?

HUUUUUUUUUUUUUUUUUUUUUUGE Democrat. Look her up on Newsmeat, her donations are enormous.

SuzeQuze · #10 10-14-2005, 02:32 PM

Quote:

Originally Posted by dissention

HUUUUUUUUUUUUUUUUUUUUUUGE Democrat. Look her up on Newsmeat, her donations are enormous.

Dirty rotten bastards.

I don't like her but I might start liking her now!

strandinthewind · #11 10-14-2005, 02:59 PM

Quote:

Originally Posted by dissention

I love Reese Witherspoon, she doesn't get the respect she deserves for being a great actress. Election (PICK FLICK!) is one of the best movies ever made and she is beyond words in it.

"You're gonna pay for my poster!!"

Election was so fab. I may buy it. I thought MB was equally as brilliant. The writing was great as well. I mean who else could write "she has the wettest ***** I have ever seen" and get away with it LOL

Pick Flick!!!

Also, Chris Klein (sp.?) was dreamy in that, esp. when thanking God for his "abnormally large penis" - and that sister of his watching the softball team

SuzeQuze · #12 10-14-2005, 03:14 PM

Quote:

Originally Posted by strandinthewind

Rove is in the hot water - not two ways about it.

Mmmm, getting ready for some Rove soup!

irishgrl · #13 10-14-2005, 04:31 PM

Quote:

Originally Posted by SuzeQuze

Mmmm, getting ready for some Rove soup!

I'll loan you my salsa shark