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Monday, September 26, 2005

SEC Chair Cox Recuses Self from Frist Probe

The scandal surrounding Senate Majority Leader Bill Frist's sale of his family's company stock immediately before it tanked is heating up these days. In the latest development in the story, Reuters reports that the Chairman of the SEC, which is set to investigate Frist, has recused himself from the case.

Christopher Cox, chairman of the U.S. Securities and Exchange Commission, said on Monday he has recused himself from an SEC probe of sales of stock in hospital company HCA Inc. by Senate Majority Leader Bill Frist, a former congressional colleague of Cox.

"The staff of the Securities and Exchange Commission have commenced a review of sales of HCA stock by a blind trust established by the U.S. Senate Majority Leader," Cox said in a statement.

"Because of my service in the congressional leadership for the last 10 years, I have recused myself in this matter," he said.

Cox's campaign committee donated $1,000 to Frist's 2000 re-election campaign, according to Federal Election Commission records made available by PoliticalMoneyLine, a non-partisan group that tracks money in politics.
These are becoming some tough days to be a Republican...
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