Frist's Biz With Bro' Reveals His Lies

Answering allegations of insider trading of Hospital Corporation of America stock, Senate Majority Leader Bill Frist had said he didn't talk business with his brother. "I have handled all of the business above and beyond the highest ethical standards. That's about all I can say," said Frist. "I do not talk about business with my brother." Today the Associated Press reports Frist's brother Thomas managed a family investment partnership, which held HCA stock, outside of Senator Frist's "blind" trust arrangement. Can Senator Frist honestly say he never discussed business with his brother, when his brother was managing his money?

First Frist said he did not know what was in his trust. Documents later proved the trustee informed Frist on a regular basis of his HCA holdings. Then Frist claimed the "blind" trust insulated him from a conflict. Now we see that Frist had significant HCA holdings outside of the trust. And his brother was his financial partner in those holdings, though Senator Frist claimed they didn't talk HCA business.

This should give SEC prosceutors looking into insider trading allegations some juicy new material. And Senators, who have been silent, should now start howling about Frist's misconduct. The Senate may be a club, but when it's leader lies, it tarnishes the whole house.