Washington, D.C.
Private letters indicate that Senate Majority Leader Bill Frist had extensive knowledge of investments held in what he once described as “totally blind” trusts, The Washington Post reported this week. Trustees wrote Frist at least 15 times since 2001 about his shares in his family’s hospital company, HCA Inc. For years, critics said the holdings constituted a conflict of interest because Congress passes laws affecting the health-care industry; Frist insisted he had no direct involvement in the investments. Frist sold the holdings in June, shortly before HCA shares dipped sharply in value. Frist said he had no insider information. The Justice Department is investigating.
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