When deciding how to handle my family's personal 
    investments, I always sought expert advice and Senate 
    Ethics Committee review and approval. Despite not being 
    required to do so, I sought and obtained two Ethics 
    Committee opinions acknowledging that my ownership of HCA 
    stock complied with Senate rules and did not present a 
    conflict of interest with my Senate duties. Despite not 
    being required to do so, I later chose to place many of 
    my investments in blind trusts, including my HCA stock. 
    With these efforts, I have sought to guarantee that no 
    conflict of interest existed. Review after review has 
    found nothing wrong. Nevertheless, the complaints and 
    questions have persisted.

    Because of these continuing questions, and looking ahead 
    at my final years in the Senate and what might come next, 
    I have for some time wanted to eliminate even the 
    possibility of an appearance of a conflict by totally 
    divesting of any HCA stock in my family's trusts.

    In April, I asked my staff to determine if Senate rules 
    and relevant laws would allow me to direct the trustees 
    to sell any remaining HCA stock. After my staff reviewed 
    relevant statutes and Senate rules and consulted with 
    outside counsel and Senate Ethics Committee staff, I 
    learned that the rules allowed me to direct the trustees 
    to sell any remaining HCA stock in my blind trusts.

    In May, my staff worked with outside counsel and the 
    Senate Ethics Committee staff to draft a written 
    communication to the trustees. After obtaining pre-
    approval by mid-June from the Senate Ethics Committee, I 
    issued a letter directing my trustees to sell any 
    remaining HCA stock in my family's trusts.

    Now I am being asked to explain this decision. I 
    understand that. And I welcome it. 

    An examination of the facts will demonstrate that I acted 
    properly. I will cooperate with the Securities and 
    Exchange Commission (SEC) and the U.S. Attorney for the 
    Southern District of New York to provide the information 
    they need as quickly as possible. My only objective in 
    selling the stock was to eliminate the appearance of a 
    conflict of interest. I had no information about HCA or 
    its performance that was not publicly available when I 
    directed the trustees to sell the stock.