The blind trust adminstrator sold the stock, not Frist. It would be hard to argue w/out direct proof the Frist had any connection at all with the sell.
Well, hey, you've got me there -- I don't
have any direct proof. Apparently, though, CBS News and the AP feel that they do, since the articles state "Frist asked a trustee to sell all his HCA stock in June," and "He initiated a stock sale" (of HCA stock); sounds like they feel confident they could
argue that Frist was directly involved in the sale.
Frist HAS been criticized (or, at least, questioned
) all the years he's been in the Senate about the propriety of his voting on healthcare legislation, etc., that would affect/benefit HCA (the family biz) and the value of HCA stock, and his response all this time has been that it's okay because the stock is in a "blind trust." The whole point of a blind trust is supposed to be that the owner of the assets has no knowledge of and no control of the disposition of the assets
and, indeed, over time, does not even know what assets are being held in her/his name. That's where the "blind" in the name comes from, and is supposed to be how the whole "blind trust as a mechanism to avoid a conflict of interest" thing works ... Now, we are hearing that the administrators of Frist's "blind trust" communicated with him regularly about purchases and sales of assets, and that he was able to "initiate" stock sales: I say again, someone explain to me how that's a "blind
I'm always amazed at how eager the GOP faithful are to immediately
allegation, however large or small, against any of the Repug leadership -- if the same reports were being made about either of the Clintons, John Kerry, or any other prominent Democrat, the entire GOP would be screaming for their heads (in four-part harmony). But, as long as it's a Repug, anything goes, right?? (We all know that any criticism of a Repug is just vicious, baseless lies by the Liberal Media ...)
Maybe it's not
much of a story -- but it's enough of a story that both the SEC and the US Dept. of Justice are investigating ... It will be interesting to see how the investigations turn out.