Sunday, September 25, 2005

Frist Knew About Blind Trust Investments

Uh Oh. Senator Frist has in the past denied that he was aware of the investments in his blind trust. That should be obvious, since it is a BLIND trust.

But the AP is reporting that he was actually updated several times during 2002 about his investments in the trust.

From the story:
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Frist, asked in a television interview in January 2003 whether he should sell his HCA stock, responded: "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"

Frist, referring to his trust and those of his family, also said in the interview, "I have no control. It is illegal right now for me to know what the composition of those trusts are. So I have no idea."

Documents filed with the Senate showed that just two weeks before those comments, the trustee of the senator's trust, M. Kirk Scobey Jr., wrote to Frist that HCA stock was contributed to the trust. It was valued at $15,000 and $50,000.
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