Bill Frist: The New Martha Stewart?
by TChris
When Martha Stewart sold some stock before its price fell, suspicions of insider trading led to an investigation that led to a criminal conviction (although not of insider trading). What will happen to Bill Frist, who sold his stock in HCA, the hospital company that his family founded, just before its shares began to plummet in value?
Sen. Frist says he sold the stock to avoid the appearance of a conflict of interest as the Senate considers health care legislation. Funny that he never troubled to disinvest himself of that conflict before. Could Frist have dumped the stock because he had inside knowledge of an upcoming announcement of poor second-quarter earnings that would cause its value to decline? Will federal investigators come knocking on his door, as they did with Martha?
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