Letters Show Frist Notified Of Stocks in 'Blind' Trusts

Letters Show Frist Notified Of Stocks in 'Blind' Trusts: "By Jeffrey H. Birnbaum | Washington Post Staff Writer | Monday, October 24, 2005; Page A01

Documents Contradict Comments on Holdings

Senate Majority Leader Bill Frist (R-Tenn.) was given considerable information about his stake in his family's hospital company, according to records that are at odds with his past statements that he did not know what was in his stock holdings.

Managers of the trusts that Frist once described as 'totally blind,' regularly informed him when they added new shares of HCA Inc. or other assets to his holdings, according to the documents."

Since 2001, the trustees have written to Frist and the Senate 15 times detailing the sale of assets from or the contribution of assets to trusts of Frist and his family. The letters included notice of the addition of HCA shares worth $500,000 to $1 million in 2001 and HCA stock worth $750,000 to $1.5 million in 2002. The trust agreements require the trustees to inform Frist and the Senate whenever assets are added or sold.

The letters seem to undermine one of the major arguments the senator has used throughout his political career to rebut criticism of his ownership in HCA: that the stock was held in blind trusts beyond his control and that he had little idea of the extent of those holdings. ...