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Re: [prezveepsenator] Re: SEC Upgrades Sen. Frist Stock Inquiry

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  • THOMAS JOHNSON
    You d think that people might be sympathetic, but I m in Austin, which is one of the best educated cities in the country, and a progressive bastion in a sea of
    Message 1 of 6 , Sep 28, 2005
    • 0 Attachment
      You'd think that people might be sympathetic, but I'm
      in Austin, which is one of the best educated cities in
      the country, and a progressive bastion in a sea of
      red. What Delay did here was gerrymander our city and
      as a result our excellent congressman Lloyd Dogget
      had to run in a new district, most of which is well
      out this county. The suburbs and some of the
      surrounding towns are Republican, but Austin itself
      is about as solidly Democratic as you get. Most of
      feel that Delay is the personification of what is
      wrong with politics. Incidentally, historian HW Brand
      lives here.

      Tom



      --- Ram Lau <ramlau@...> wrote:


      ---------------------------------
      How do your neighbors react to his indictment?
      Probably lots of
      sympathy for him?

      Ram


      --- In prezveepsenator@yahoogroups.com, THOMAS JOHNSON
      <AVRCRDNG@F...>
      wrote:
      > Not to mention treasonous acts under investigation
      in
      > the White House.
      > Delay was indicted in my county in TX.
      >
      > Tom
      >
      >
      >
      > --- Ram Lau <ramlau@y...> wrote:
      >
      >
      > ---------------------------------
      > Both Houses are on fire. Jon Stewart must have a lot
      > to say in these days.
      >
      > Ram
      >
      >
      > --- In prezveepsenator@yahoogroups.com, Greg Cannon
      > <gregcannon1@y...>
      > wrote:
      > >
      >
      http://news.yahoo.com/s/ap/20050928/ap_on_go_co/frist_stock;_ylt=AuNfWBVN6Y3EpVHKTfaFBGYGw_IE;_ylu=X3oDMTA4NGRzMjRtBHNlYwMxNjk5
      > >
      > > SEC Upgrades Sen. Frist Stock Inquiry
      > >
      > > By MARCY GORDON, AP Business Writer 1 hour, 18
      > minutes
      > > ago
      > >
      > > WASHINGTON - The
      > > Securities and Exchange Commission, which is
      > examining
      > > a stock sale by Senate Majority Leader Bill Frist,
      > has
      > > upgraded its initial informal inquiry to a formal
      > > investigation.
      > >
      > > The change means the agency can issue subpoenas
      for
      > > documents rather than just requesting them.
      Federal
      > > prosecutors also are investigating the Tennessee
      > > Republican's recent sale of stock in HCA Inc.
      about
      > > two weeks before its price dropped. Frist's family
      > > founded the big hospital operating company.
      > >
      > > The SEC has made the investigation formal, a
      person
      > > familiar with the matter said Wednesday, speaking
      on
      > > condition of anonymity because the agency does not
      > > comment publicly on its inquiries.
      > >
      > > It is customary in potential cases of insider
      > trading
      > > for the agency to initiate a formal inquiry so
      > > investigators can obtain telephone and financial
      > > records and other documents.
      > >
      > > "We're going to cooperate with them every step of
      > the
      > > way. This is a usual step in inquiries of this
      > > nature," Frist spokesman Bob Stevenson said. Asked
      > > whether any subpoenas had been issued to the
      > majority
      > > leader's office, he said, "I can't get into that
      > right
      > > now."
      > >
      > > Already, Nashville, Tenn.-based HCA has said it
      has
      > > received a subpoena from the office of the U.S.
      > > Attorney in Manhattan asking for documents the
      > company
      > > believes are related to Frist's sale of company
      > stock.
      > > Frist's office said prosecutors and SEC
      > investigators
      > > had contacted the senator's office about the sale.
      > >
      > > Frist ordered the stock sold from several blind
      > trusts
      > > this summer, about two weeks before HCA issued a
      > > disappointing earnings forecast that drove its
      share
      > > price down almost 16 percent by mid-July.
      > >
      > > He sold the stock at a time when top executives
      and
      > > directors of HCA — including the chief executive
      and
      > > the treasurer — also were selling off shares worth
      a
      > > total of $112 million. Aides to the majority
      leader,
      > > who is widely considered a potential presidential
      > > candidate in 2008, say he ordered his trustee to
      > sell
      > > his shares to avoid any appearance of a conflict
      of
      > > interest.
      > >
      > > The new SEC chairman, former Rep. Christopher Cox
      > > (news, bio, voting record), on Monday said that to
      > > avoid a potential conflict he will take no part in
      > the
      > > agency's investigation. Cox was a member of the
      > > Republican leadership in Congress with Frist.
      > >
      > > Frist has hired two private attorneys who
      specialize
      > > in securities litigation and insider trading
      cases:
      > > William McLucas, a former SEC enforcement
      director,
      > > and Harry Weiss, a former SEC attorney who was a
      > > co-author of a text titled "Preventing Insider
      > > Trading." Their representation of Frist was
      > confirmed
      > > by their law firm, Wilmer Cutler Pickering Hale
      and
      > > Dorr.
      > >
      > > ___
      > >
      > > Associated Press writer Jonathan M. Katz in
      > Washington
      > > contributed to this report.
      > >
      > > On the Net:
      > >
      > > Securities and Exchange Commission:
      > http://www.sec.gov
      > >
      > > Hospital Corp. of America Inc.:
      > http://www.hcainc.com
      >
      >
      >
      >
      >
      > ---------------------------------
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      >
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      >
      >
      > ---------------------------------





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      ---------------------------------
    • THOMAS JOHNSON
      Although Tom Delay is from Houston, he was indicted in Travis County (Austin) because the state capitol is here. The prosecutor is Ronnie Earle, a Democrat,
      Message 2 of 6 , Sep 29, 2005
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        Although Tom Delay is from Houston, he was indicted in
        Travis County (Austin) because the state capitol is
        here. The prosecutor is Ronnie Earle, a Democrat, but
        hardly the "partisan fanatic" that Delay calls him. He
        has brought charges against 15 major Texas political
        figures during his career and 12 of them were
        Democrats.
        In 2004, Delay won re-election by only 52% from a
        weak,unknown, under-financed opponent. Ex- US Rep.
        Nick Lampson (D-TX) was one of 5 casualties of Delay's
        off year redistricting plan in 2003 and has since
        moved into Delay's district to challenge him in 2006.
        In my opinion, Delay may be the most ruthless figure
        in US politics right now and will not go quietly.

        Tom



        --- Ram Lau <ramlau@...> wrote:


        ---------------------------------
        How do your neighbors react to his indictment?
        Probably lots of
        sympathy for him?

        Ram


        --- In prezveepsenator@yahoogroups.com, THOMAS JOHNSON
        <AVRCRDNG@F...>
        wrote:
        > Not to mention treasonous acts under investigation
        in
        > the White House.
        > Delay was indicted in my county in TX.
        >
        > Tom
        >
        >
        >
        > --- Ram Lau <ramlau@y...> wrote:
        >
        >
        > ---------------------------------
        > Both Houses are on fire. Jon Stewart must have a lot
        > to say in these days.
        >
        > Ram
        >
        >
        > --- In prezveepsenator@yahoogroups.com, Greg Cannon
        > <gregcannon1@y...>
        > wrote:
        > >
        >
        http://news.yahoo.com/s/ap/20050928/ap_on_go_co/frist_stock;_ylt=AuNfWBVN6Y3EpVHKTfaFBGYGw_IE;_ylu=X3oDMTA4NGRzMjRtBHNlYwMxNjk5
        > >
        > > SEC Upgrades Sen. Frist Stock Inquiry
        > >
        > > By MARCY GORDON, AP Business Writer 1 hour, 18
        > minutes
        > > ago
        > >
        > > WASHINGTON - The
        > > Securities and Exchange Commission, which is
        > examining
        > > a stock sale by Senate Majority Leader Bill Frist,
        > has
        > > upgraded its initial informal inquiry to a formal
        > > investigation.
        > >
        > > The change means the agency can issue subpoenas
        for
        > > documents rather than just requesting them.
        Federal
        > > prosecutors also are investigating the Tennessee
        > > Republican's recent sale of stock in HCA Inc.
        about
        > > two weeks before its price dropped. Frist's family
        > > founded the big hospital operating company.
        > >
        > > The SEC has made the investigation formal, a
        person
        > > familiar with the matter said Wednesday, speaking
        on
        > > condition of anonymity because the agency does not
        > > comment publicly on its inquiries.
        > >
        > > It is customary in potential cases of insider
        > trading
        > > for the agency to initiate a formal inquiry so
        > > investigators can obtain telephone and financial
        > > records and other documents.
        > >
        > > "We're going to cooperate with them every step of
        > the
        > > way. This is a usual step in inquiries of this
        > > nature," Frist spokesman Bob Stevenson said. Asked
        > > whether any subpoenas had been issued to the
        > majority
        > > leader's office, he said, "I can't get into that
        > right
        > > now."
        > >
        > > Already, Nashville, Tenn.-based HCA has said it
        has
        > > received a subpoena from the office of the U.S.
        > > Attorney in Manhattan asking for documents the
        > company
        > > believes are related to Frist's sale of company
        > stock.
        > > Frist's office said prosecutors and SEC
        > investigators
        > > had contacted the senator's office about the sale.
        > >
        > > Frist ordered the stock sold from several blind
        > trusts
        > > this summer, about two weeks before HCA issued a
        > > disappointing earnings forecast that drove its
        share
        > > price down almost 16 percent by mid-July.
        > >
        > > He sold the stock at a time when top executives
        and
        > > directors of HCA — including the chief executive
        and
        > > the treasurer — also were selling off shares worth
        a
        > > total of $112 million. Aides to the majority
        leader,
        > > who is widely considered a potential presidential
        > > candidate in 2008, say he ordered his trustee to
        > sell
        > > his shares to avoid any appearance of a conflict
        of
        > > interest.
        > >
        > > The new SEC chairman, former Rep. Christopher Cox
        > > (news, bio, voting record), on Monday said that to
        > > avoid a potential conflict he will take no part in
        > the
        > > agency's investigation. Cox was a member of the
        > > Republican leadership in Congress with Frist.
        > >
        > > Frist has hired two private attorneys who
        specialize
        > > in securities litigation and insider trading
        cases:
        > > William McLucas, a former SEC enforcement
        director,
        > > and Harry Weiss, a former SEC attorney who was a
        > > co-author of a text titled "Preventing Insider
        > > Trading." Their representation of Frist was
        > confirmed
        > > by their law firm, Wilmer Cutler Pickering Hale
        and
        > > Dorr.
        > >
        > > ___
        > >
        > > Associated Press writer Jonathan M. Katz in
        > Washington
        > > contributed to this report.
        > >
        > > On the Net:
        > >
        > > Securities and Exchange Commission:
        > http://www.sec.gov
        > >
        > > Hospital Corp. of America Inc.:
        > http://www.hcainc.com
        >
        >
        >
        >
        >
        > ---------------------------------
        > YAHOO! GROUPS LINKS
        >
        >
        > Visit your group "prezveepsenator" on the web.
        >
        > To unsubscribe from this group, send an email
        to:
        > prezveepsenator-unsubscribe@yahoogroups.com
        >
        > Your use of Yahoo! Groups is subject to the
        Yahoo!
        > Terms of Service.
        >
        >
        > ---------------------------------





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