Congress

The Apprentice: Bill Frist

If insider trading is a prerequisite for hosting retread versions of The Apprentice, then I nominate the majority leader of Congress, Senator Bill Frist! Why?

Well, as the Washington Post reports, Dr. Right-Wing sold $13 MILLION DOLLARS worth of stock in a family business in some timing that can only be described as 1) REALLY LUCKY for Bill or 2) the result of a tip-off Frist got from his brother (who is on the board of the business) that the stock was going to take a dive.

Precisely a month later, after the stock was sold, its price tumbled 9 percent when executives in the company -- HCA Inc., which was founded by Frist's father and on whose board Frist's brother serves -- disclosed that hospital admissions of insured patients were lower than expected, depressing profits in the second quarter.

[snip]

Several ethics experts and watchdogs said they found it odd that Frist could intervene to order such a sale when the HCA stock was ostensibly out of his reach in blind trusts. Fred Wertheimer, president of Democracy 21, said, "The notion that you have a blind trust but you can tell your trustee when to sell stock in it just doesn't make any sense. It means you have a seeing eye trust and not a blind trust. It's ridiculous."

The degree of outright corruption within the GOP is truly staggering. Frist bailed on a health-care company (albeit a for-profit hospital chain). He bailed on it because he didn't want to subsidize uninsured patients on the one hand while he busily dismantles Medicaid and Medicare on the other hand. I say revoke his medical license: he clearly hates helping sick people.