Frist's *ss is in the fire over FEC loan violations
Ah, feel the pain, Cat Killer Frist. The Citizens for Responsibility and Ethics in Washington (CREW) has filed a complaint with the Federal Election Commission (FEC) against the Senate Majority Leader and it’s a sleazy deal. Oops. Pious Bill is going to have a hard time explaining this one since he personally signed off on the transactions.
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.
The Federal Election Campaign Act (FECA) requires full disclosure of any loans taken out by campaign committees. Yet only the 1994 campaign committee, which had been largely dormant, disclosed the loan. The loan papers, which are attached to CREW’s complaint, are signed by Senator Frist personally on behalf of each of the campaign committees.
Aren’t you getting tired of these sleazebag Repugs claiming to take the high road on just about any political issue, accusing Dems of moral bankruptcy when the list of GOP hypocrites, liars, bigots, closeted self-loathers and dumbf*cks is a mile long and they swim in a cesspool of deceit that stinks to high heaven? Damn. It takes balls to do this, but you know what? As long as they can convince the sheeple and Freepi to fall in line at ballot time, they have the upper hand. The damn Dems should be able to beat these clowns cold.