It now turns out that the Securities and Exchange Commission is investigating Senate Majority Leader Bill Frist's sale of stock which was supposedly in a blind trust.
The sale raised eyebrows because Frist would have had intimate knowledge of the company, Hospital Corporation of America, founded by his father, and the sale was just ahead of a major drop in the stock's price caused by a disappointing earnings report. In fact, other insiders are also being investigated.
More concerning, however, is that Frist apparently knew that it was in his blind trust. What good is a blind trust (designed to avoid conflict of interest by government officials who have to pass legislation that could affect various companies) if it isn't actually blind? How could we trust the Senate Majority Leader if he can't even follow a simple rule like not guiding his blind trust?
I've blogged in the past about how Bill Frist is poll driven and willing to change positions for political gain so now it seems apparently he is corrupt also.
And this is the guy who Republicans in the Senate asked to lead them (and who himself plans to run for President in 2008).