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Monday, November 24, 2003
But what is most important is: how much richer will this make Bill Frist?
Since it looks like the unholy alliance between the AARP & the AARP is going to shove the Medicare bill through, it's worth remembering that this bill probably has a silver (and gold) lining for Bill Frist.
Here's a blast from the past:
Frist was born rich, and got richer — thanks to massive criminal fraud by the family business. The basis of the Frist family fortune is HCA Inc. (Hospital Corporation of America), the largest for-profit hospital chain in the country, which was founded by Frist’s father and brother. And, just as Karl Rove was engineering the scuttling of Trent Lott and the elevation of Frist, the Bush Justice Department suddenly ended a near-decadelong federal investigation into how HCA for years had defrauded Medicaid, Medicare and Tricare (the federal program that covers the military and their families), giving the greedy health-care behemoth’s executives a sweetheart settlement that kept them out of the can.
The government’s case was that HCA kept two sets of books and fraudulently overbilled the government. The deal meant that HCA agreed to pay the government $631 million for its lucrative scams — which, on top of previous fines, brought the total government penalties against the health-care conglomerate to a whopping $1.7 billion, the largest fraud settlement in history, breaking the old record set by Drexel Burnham.
The deal also meant that HCA can continue to participate in Medicare. And, as part of the Bushies’ deal shutting down what Deputy Assistant FBI Director Thomas Kubic called "one of the FBI’s highest-priority white-collar crime investigations," no criminal charges were brought against the top HCA execs who presided over the illegal bilking of federal programs designed to aid the poor — and that includes Senator Frist’s brother, Thomas, HCA’s former CEO (and current director), who’s been described by Forbes magazine as "one of the richest men in America," with a personal fortune estimated at close to $2 billion.
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