Thursday, September 29, 2005
Not a good time to be a Republican
Delay indicted?
Frist investigation upgraded by the SEC?
My oh my oh my. Seems like TOP REPUBLICANS IN CONGRESS ARE SIMULTANEOUSLY UNDER THE GUN.
Here's the latest on Frist from WaPost:
"WASHINGTON -- While insiders at Hospital Corp. of America Inc. were selling millions of dollars of their own stock this year, they were also painting a sunny picture of the company's outlook for investors."
"Federal prosecutors and the Securities and Exchange Commission are investigating the sale of HCA stock by Senate Majority Leader Bill Frist, R-Tenn., whose family founded the company. HCA is the nation's largest for-profit health care chain."
"On June 14, the day after Frist ordered his shares sold, HCA officers at a Goldman Sachs health care conference in Laguna Niguel, Calif., spoke optimistically about the company's prospects."
(snip)
"In the month before the speech, Campbell sold about $12 million worth of stock. It was part of a massive insider sell-off at HCA that totaled some $112 million between January and June 2005."
"Those sales were disclosed publicly through filings with the SEC."
"HCA shares peaked about a week later, closing at $58.40 on June 22. On July 13, they tumbled 9 percent following the company's announcement that it would not meet earnings expectations."
A situation like this was good enough to send Martha Stewart to prison. What about ol' Billy?
(In case you missed it, these are two of the three top GOP posts in Congress.)
I guess two out of three ain't bad.
Frist investigation upgraded by the SEC?
My oh my oh my. Seems like TOP REPUBLICANS IN CONGRESS ARE SIMULTANEOUSLY UNDER THE GUN.
Here's the latest on Frist from WaPost:
"WASHINGTON -- While insiders at Hospital Corp. of America Inc. were selling millions of dollars of their own stock this year, they were also painting a sunny picture of the company's outlook for investors."
"Federal prosecutors and the Securities and Exchange Commission are investigating the sale of HCA stock by Senate Majority Leader Bill Frist, R-Tenn., whose family founded the company. HCA is the nation's largest for-profit health care chain."
"On June 14, the day after Frist ordered his shares sold, HCA officers at a Goldman Sachs health care conference in Laguna Niguel, Calif., spoke optimistically about the company's prospects."
(snip)
"In the month before the speech, Campbell sold about $12 million worth of stock. It was part of a massive insider sell-off at HCA that totaled some $112 million between January and June 2005."
"Those sales were disclosed publicly through filings with the SEC."
"HCA shares peaked about a week later, closing at $58.40 on June 22. On July 13, they tumbled 9 percent following the company's announcement that it would not meet earnings expectations."
A situation like this was good enough to send Martha Stewart to prison. What about ol' Billy?
(In case you missed it, these are two of the three top GOP posts in Congress.)
I guess two out of three ain't bad.
# posted by Sanders @ 10:14 PM 
