Records: Frist Campaign Lost $500,000

[Moloch]

CHATTANOOGA, Tenn. - Senate Majority Leader Bill Frist's campaign committee lost more than $500,000 in the stock market since the 2000 election and could not cover a bank loan that came due in August, records showed.

Campaign treasurer Linus Catignani said U.S. Bank "rolled over" the $360,000 loan and the money is now due in 2007. U.S. Bank spokesman Steve Dale said the company does not comment on individual loans.

The committee had paid off about $10,000 as of Sept. 30, according to its federal campaign filing.

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20041202/ap_on_go_co/frist_campaign_finances&cid=512&ncid=1963&sid=96378798

[bullimiami]

1. WTF? Is it legal for a campaign to use donations as seed money

to make a profit in the stock market?

who does the profit belong to if that is the case? the candidate? the campaign management?

this is so corrupt it is unreal.

[AP]

2. And U.S. Bank basically gave a donation to the campaign, which is

against the law.

I know. I know. It's a business decision. But would they give a politician with whom they disagreed that benefit?

[madrchsod]

3. maybe i can get the same deal

on my check overdrafts...ya right.

[LeftHander]

4. Frist purchases condo in Aspen....

Nobody notices...

[gratuitous]

5. Tell me again?

Tell me again why putting my social security insurance premiums into the stock market is such a wonderful idea? I presume that Mr. Frist has access to the best minds the investment community has to offer, and he lost $500,000. What are my alternatives in case my investments of my social security funds don't pan out, or some slick-talking investment "counselor" snookers me out of my money? Can I just go to well-heeled political donors, who will make up the difference? Or will I be reduced to fighting the cat for scraps in the gutter?

[Moderator]

6. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1032023

From Tuesday