Bill Frist hounded by allegations of insider trading

[whiskeytown]

hmmmm...a Republican who would break the law for financial gain...

never saw that coming...<snort>

http://www.washingtonpost.com/wp-dyn...102065_pf.html

RB

[scalf]

[img]/images/graemlins/grin.gif[/img] if ya ain't cheating; ya ain't trying hard enuf; friest has the juice to prevent even a thought of a trial; in many countries; it is not a crime to use inside info to make stock market profits; why not take advantage of your knowledge...

jmho

gl

[img]/images/graemlins/smirk.gif[/img] [img]/images/graemlins/spade.gif[/img]

p.s. surgeons have so much money; they gotta find some way to use it...

gl

[img]/images/graemlins/grin.gif[/img] [img]/images/graemlins/spade.gif[/img]

[Broken Glass Can]

Wow!

A 9% price fluctuation. Why, such a big swing is just unheard of. I mean it means for every $11 he got from the sale, he would have only got $10 instead. This is just wrong.

A 9% price swing is clearly proof of insider trading. I mean I've never had my poker bankroll take a 9% swing, that is just so BIG and unbelievable in the real world. [img]/images/graemlins/smirk.gif[/img]

[whiskeytown]

according to MSNBC, the total drop was about 16% and shares were sold to a total of 112 mil. -

so yah....16% - with millions of dollars on the line - yah they will do that....

but I'm sure you're right...I'm sure there's nothing unusual there at all....that's why the SEC is investigating - cause they don't think they'll find anything and they don't feel like really working hard.

[CCass]

[ QUOTE ]
according to MSNBC, the total drop was about 16% and shares were sold to a total of 112 mil. -

so yah....16% - with millions of dollars on the line - yah they will do that....

but I'm sure you're right...I'm sure there's nothing unusual there at all....that's why the SEC is investigating - cause they don't think they'll find anything and they don't feel like really working hard.

[/ QUOTE ]

Your reading comprehension needs a little work. Nowhere in the article does it say that the SEC is investigating Frist. Also, the article states that Frist is/was within the rules of the Senate. Tell me again why I should be upset.

[Broken Glass Can]

[ QUOTE ]
Tell me again why I should be upset.

[/ QUOTE ]

It's the 9% profit!!

Of course, Hillary's 2000% profit on cattle futures shouldn't raise any concern.

[MtSmalls]

Broken down in tiny little sentences:

Federal prosecutors have subpoenaed documents from HCA, not Frist, related to Frist (and his family's) stock sales.

Frist's family founded the company, which is the largest for-profit hospital chain in the country.

Frist's brother still sits as a board member of HCA.

Frist has held on to the stock for more than two years, despite complaints that he shouldn't be promoting anti-malpractice legislation.

He suddenly instructed the blind trust (which shouldn't be possible) to sell all his shares and his family's shares two weeks before a negative earnings announcement.

Selling stock, especially through what is supposed to be a blind trust, based on insider information (non-public) is illegal. See "Wall Street", "Martha Stewart".

[CCass]

[ QUOTE ]
Broken down in tiny little sentences:

Federal prosecutors have subpoenaed documents from HCA, not Frist, related to Frist (and his family's) stock sales.

Frist's family founded the company, which is the largest for-profit hospital chain in the country.

Frist's brother still sits as a board member of HCA.

Frist has held on to the stock for more than two years, despite complaints that he shouldn't be promoting anti-malpractice legislation.

He suddenly instructed the blind trust (which shouldn't be possible) to sell all his shares and his family's shares two weeks before a negative earnings announcement.

Selling stock, especially through what is supposed to be a blind trust, based on insider information (non-public) is illegal. See "Wall Street", "Martha Stewart".

[/ QUOTE ]

The article never mentions that Fed Prosecutors have supoened documents from HCA.

According to the article, it is ok for him to direct the trust on assets that were put in the trust on the front end.

I haven't yet seen any evidence of "insider trading".

Again, what is it that I am supposed to be upset about?

[John Ho]

Not to nitpick but this is MUCH different from Martha Stewart. Martha never really engaged in insider trading - she was convicted of lying to the investigators. To be insider trading Martha must have known for sure something bad (or good depending on the trade) was going to happen. Dumping your stock because your broker tells you the CEO of XYZ company is blowing his stock out doesn't meet the necessary proof for insider trading. For example, if you are the broker's secretary and you hear that Waksal is selling all his stock and then decide to short the stock it is not insider trading (though you will be fired by the brokerage if they find out) because, for all you know, he could be selling because he is going bankrupt due to other investments or is leaving the company and donating all his money to charity or Scientology. You just don't know for sure and your trade is based on acts that can be interpreted many ways.

Frist's apparent behavior, on the other hand, would appear to be either insider trading or he is luckiest SOB ever. He instructs a blind trust (the trustee should be ashamed of himself) to sell the stock and then we soon find out financial results are in the toilet. And his brother is still on the board and his father founded the company.

Shady.

[Rockatansky]

[ QUOTE ]
Wow!

A 9% price fluctuation. Why, such a big swing is just unheard of. I mean it means for every $11 he got from the sale, he would have only got $10 instead. This is just wrong.

A 9% price swing is clearly proof of insider trading. I mean I've never had my poker bankroll take a 9% swing, that is just so BIG and unbelievable in the real world. [img]/images/graemlins/smirk.gif[/img]

[/ QUOTE ]

You're a complete and utter joke.