Frist Knew About Blind Trust Investments -- Taegan Goddard's Political Wire

September 24, 2005

Frist Knew About Blind Trust Investments

Senate Majority Leader Bill Frist (R-TN) lied about his personal investment in HCA Inc., the hospital operating company founded by the senator's family, the AP reports.

In a 2003 television interview, Frist explained, "Well, I think really for our viewers it should be understood that I put this into a blind trust. So as far as I know, I own no HCA stock."

Unfortunately for Frist, documents filed with the Senate "just two weeks before those comments" show that the trustee of the senator's trust, "wrote to Frist that HCA stock was contributed to the trust. It was valued at $15,000 and $50,000."

The Washington Post notes Frist's actions are now being questioned by federal investigators and that historians "said they cannot recall any other congressional leaders who have faced federal inquiries into stock sales."

The Tennessean understates the political impact, saying the stock sale and investigation "might pose a political stumbling block for the Tennessee Republican as he prepares a possible presidential campaign."

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Taegan D. Goddard is the creator of Political Wire, a political column updated around the clock with the most interesting news, buzz and commentary.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

This is a personal site and does not necessarily reflect the views of any company, political campaign or advocacy group.

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Taegan Goddard's Political Wire

September 24, 2005