My comment to Tom Daschle's Op-Ed in WaPO

OBAMA says: The epitome of Fraud Waste and Abuse….

I SAY: Root that out and we can afford much more to spend!

PAY ATTENTION PEOPLE

Are you aware of the largest private financial fraud in our country's history that ended December 2008?

WHY?

It was not 'low income housing' mortgages; it was HEALTHCARE FINANCIAL FRAUD; the largest private "FINANCIAL INSTITUTION“in our country.

JULY 10, 2007 - SUPERSEDING INDICTMENT CHARGES EIGHT FORMER EXECUTIVES OF HEALTH CARE FINANCING COMPANY WITH CONSPIRACY, FRAUD, MONEY LAUNDERING

"This case is one of the largest corporate fraud investigations involving a privately held company headquartered in small town America," said FBI Criminal Investigative Division. (Because it was private, no one has ever heard of this case, cried one prosecutor)

A reminder relating to the NEED for ‘healthcare financial service’ i.e. (NCFE) National Century Financial Enterprises; home health - which was struggling under the Balanced Budget Act of 1997; about 1,400 agencies closed nationwide in 1998.

Recall in 1998: On Sept 8, 1998 Standard and Poors downgraded the bonds of Charter/HCA …

The following is an excerpt from a 10-K SEC Filing, filed by J P MORGAN CHASE & CO on 3/9/2006:
the three current or former Firm employees are sued in their roles as former members of NCFE's (National Century Financial Enterprises) board of directors

2002 FBI Raids NCFE headquarters in Dublin Ohio

Prior to the exposure of ‘some’ of the fraud at NCFE, the same entities were also involved in the "LARGEST PRIVATE" Bankruptcy Court in Memphis, TN in 1999. (Another “private’ company; remember, home health - which was struggling under the Balanced Budget Act of 1997)

Guess what this LARGEST PRIVATE Company filing bankruptcy in Tennessee was--- HOME HEALTHCARE!

The SEC NEVER received documentation of the publicly traded companies allegedly selling or divesting their home health units to this private company.
Six months or so later after the acquisition of all the losers, this private healthcare company filing bankruptcy in Tennessee held much of if not ALL of Columbia/HCA Homecare’s losing' assets, home health- financed by the largest fraudulent private "FINANCIAL INSTITUTION “in our country, NCFE.

Tennessee Bankruptcy court transcripts reveal lawyers crying Fraud only to be reprimanded by the appointed corporate bankruptcy judge. She forbade the lawyers from using the ‘F’ (fraud) word in her court. (Got to love those appointed judges) Guess what tool was used in this corporate bankruptcy court in TN? DIP FINANCE TOOL.


March 26, 2008; By Jodi Andes; THE COLUMBUS DISPATCH
Nine other executives have been convicted or pleaded guilty in National Century's collapse. Only Poulsen and executive James Happ still await trial.

Only CEO and ONE EXECUTIVE –JAMES K HAPP await trial? JAMES K HAPP –LAST PERSON ON TRIAL—

WHY?
Who is James K Happ? Where was James K Happ when Richard Scott was at Columbia in 1997?

In 1997 James K Happ was the CFO of the Dallas-based Columbia Homecare Group, Inc. “In this role, he directed the company through the challenging reimbursement climate, known as the interim payment system, and participated in the divestiture of all of Columbia/HCA's home care operations” (SEC Form)


Let me remind you the size and TOO BIG TO FAIL mentality for HCA-Hospital Corporation of America is in Nashville, TN. Remember Senator Bill Frist- Leader of the Senate- HOLY COW!

December 9, 2008. James K. Happ, 48, is charged with conspiracy, money-laundering conspiracy and three counts of wire fraud; the 11th National Century executive to be tried or admit guilt. , Also today, a former friend of Happ's testified that, while working at National Century, Happ boasted that he never could be charged with any fraud because he didn't sign anything.

(Just like Madoff’s sons never signed anything therefore they are not involved.)

December 18, 2008 - The ONE AND ONLY acquittal; James K Happ!

By Jodi Andes THE COLUMBUS DISPATCH
Prosecutors' case fell short, juror says National Century fraud case produces 1st acquittal; The "not guilty" verdicts that came in federal court yesterday were not so much a vindication of the last National Century Financial Enterprises executive to stand trial, a juror said.

Instead, they were more a belief that federal prosecutors had not done their job, the juror said after he and his fellow jurors acquitted James K. Happ of five counts after 12 hours of deliberation. "He very well may have been guilty. A lot of us thought he was," said the juror who wouldn't give his name. "But if he was, you gotta have the evidence."

“Federal prosecutors had not done their job” in 2008?

To be continued…..