Frist joins his buddy DeLay in Sleazeland

Yesterday, 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.

They allege 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 a lot more money that it actually had.

In June 2000, 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. Isn't he all for private accounts for our Social Security? But I digress. In November 2000, Frist tried to collect $1.2 million he had lent his 1994 Senate campaign committee. But as a result of the stock market losses, Frist 2000, Inc. did not have enough money to repay the loan. 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.

I really hope this gets all the attention it deserves.

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