Frist Defenders Dust Off The “He Doesn’t Need the Money” Defense

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Nicholas E. Calio, a former White House aide to the Bushes, defended Bill Frist yesterday against allegations of insider trading. “To me, it’s inconceivable that he [Frist] would sell stock based on inside information,” Calio said. “He doesn’t need the money.” Ah, yes - Bill Frist would never steal because he’s already rich. Obviously, Calio’s memory must be short to forget these infamous millionaires: Ken Lay, Dennis Kozlowsk, Bernard Ebbers?

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