CREW files FEC complaint against Frist

[AnnInLa]

http://www.citizensforethics.org/activities/campaign.php?view=68

CREW FILES FEC COMPLAINT AGAINST SENATE MAJORITY LEADER FRIST

Frist Campaign Committee Failed to Disclose a $1.44 Million Loan

Washington, DC – Earlier today, Citizens for Responsibility and Ethics in Washington (CREW) filed a complaint with the Federal Election Commission (FEC) against Senate Majority Leader Bill Frist and his 2000 Senate campaign committee, Frist 2000, Inc.

The complaint alleges that the Frist 2000, Inc. failed to disclose a $1.44 million loan taken out jointly by Frist 2000, Inc. and by Frist’s 1994 campaign committee, Bill Frist for Senate, Inc., making it appear that Frist 2000, Inc. had significantly more money that it actually had.

In June 2000, Senator Frist took $1 million of the money that had been contributed to his 2000 Senate campaign and invested it in the stock market, where it promptly began losing money. In November 2000, Senator Frist sought to collect $1.2 million he had lent his 1994 Senate campaign committee. As a result of the stock market losses, however, Frist 2000, Inc. did not have enough money to repay the loan. Senator Frist solved this problem by having the 1994 and the 2000 campaign committees jointly take out a $1.44 million bank loan at a cost of $10,000 a month interest. Frist 2000, Inc. did not report this debt on its FEC disclosure forms.

[rodeodance]

1. so Frist lost his booty in the stock market and now wants to use our

SS money to invest in the scock market???????????/

In November 2000, Senator Frist sought to collect $1.2 million he had lent his 1994 Senate campaign committee. As a result of the stock market losses, however, Frist 2000, Inc. did not have enough money to repay the loan.