Records: Frist campaign short on money for loan

oooooooohhh ....

CHATTANOOGA — After big losses in the stock market, U.S. Senate Majority Leader Bill Frist's campaign committee is short of money to cover a bank loan that was due in August, records show.

The committee's most recent filing shows a little more than $10,000 was paid on the $360,000 loan from U.S. Bank.

Records show Frist's committee had losses in the stock market totaling more than $524,000 since November 2000. After paying other expenses, the committee had $312,807 in its accounts as of Sept. 30, according to records reviewed by the Chattanooga Times Free Press.

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

no problem! sure bet! don't miss out! step right up folks!

Or maybe it's just that misery loves company....

Hey, they already $tole million$ and got away with it!

:eyes:

What a shame. Maybe he should have invested in kitty litter.

"Records show Frist's committee had losses in the stock market totaling more than $524,000 since November 2000. "

He invested his campaign contributions in the stock market? I didn't know you could do that sort of thing (ie., reinvest campaign contributions). What are the restrictions and limits on campaign stock market earnings? The whole reinvestment maneuver seems ripe for abuse.

I've never heard of such a thing, and I thought I'd heard it all...

Don't it?

a lovely image of Fristie sitting in a dark, dank room eating cat food when he's about 80. It'll never happen...but I can dream.

Some more info in this link:

http://www.washingtonpost.com/wp-dyn/articles/A26558-2004Dec1.html?sub=new

<snip>

Like many successful candidates, Frist had surplus funds in the account after his 2000 victory, and he decided to invest them, Castignani said.

Along with the Frist 2000 fund, the majority leader also operates a separate "leadership" account called Volunteer PAC, which he has used to support other Senate candidates.

Meanwhile, records show, Frist has continued to use money from the 2000 campaign account to cover various expenses.

Recent spending, for example, included $689.50 for flowers for a holding room for visiting dignitaries attending the funeral of former president Ronald Reagan, and $9,457 for "Senate gifts" from the Senate Gift Shop. Castignani said he did not know about the nature of the gifts, but he added that FEC rules allow federal officeholders to spend campaign money in support of official activities.