Fist's Stock Market Losses

[erpowers]

Has the media given any attention to the fact that Senate Majority Leader Fist lost about $450,000 in the stock market?

[Inland]

1. Looks like he lost his aRse in the market.

[The Velveteen Ocelot]

4. Awww. Cry me a river.

Dr. Frist-Mengele's portfolio took a hit. Sucks to be him.

[Inland]

8. Wait, I was making a funny. Look again.

[Deja Q]

2. The poor baby

Let him go penniless and then see what it's like.

[aquart]

3. Drop in his large bucket?

Or something that causes actual pain?

I'm sure he can write it off. Or he'll make a law saying he can.

[rainbow4321]

5. And the bank delayed his payback of loan

Apparently it was "rolled over" til Feb 2007


http://tennessean.com/government/archives/04/11/62186658.shtml?Element_ID=62186658


Melanie Sloan, executive director of Citizens for Responsibility and Ethics in Washington, D.C., questioned whether the bank provided special privileges to Frist.

''Are the policies U.S. Bank used to extend his loan the same as what is offered to members of the public?''

Nick Smith, a spokesman for the Tennessee Republican, referred questions yesterday to the senator's financial consultant, Linus Catignani, who said the idea that Frist has received any preferential treatment is ''absurd.''

Catignani said ''the loan was rolled over,'' and interest earnings will pay it off by the time it's due in February 2007


http://www.washingtonpost.com/wp-dyn/articles/A26558-2004Dec1.html


A campaign fund controlled by Senate Majority Leader Bill Frist (R-Tenn.) has lost almost $460,000 in stock market investments since 2000 and now does not have enough to cover a sizable bank loan, according to federal election records and the manager of the Frist account.

The heaviest losses, totaling more than $500,000, occurred in a stock index fund in 2001 and 2002, years when the securities markets suffered a major downturn. But the Frist campaign account lost an additional $32,050 in July and August, a setback that was only partially offset by a gain of $11,472 in September, according to Linus Castignani, treasurer of "Frist 2000," which was created to finance the senator's successful campaign for a second six-year term in 2000. Democrats yesterday seized on the reports of the losses, which were revealed by the Chattanooga Times Free Press.

Todd Webster, spokesman for outgoing Senate Minority Leader Thomas A. Daschle (D-S.D.), said in an e-mailed statement that the losses raised questions about a Republican plan to let Americans invest a portion of their Social Security contributions in the stock market.

[spanone]

6. And now he wants us to lose our Social Security in same manner

By the way the name is Frist. Senator Tennessee.

[rainbow4321]

7. Think we can get OUR bill payments delayed...

when the market tanks and takes our savings with it?

[blurp]

9. I agree in spirit with the idea of investing SS money

but I think Frist has proven the stock market is really too much like gambling and not investing.

Bad idea for SS.