* Investors have complained in 2004 that the distressed debt market is getting crowded. This appears to be true based on The Seaport Group's end-of-year bash held at upscale New York-bar Frederick's, renowned for its fingerprint-accessed member's only room and suave bar staff. A mix of hedge funds, banks and traders soaked up the champagne and Asian tapas before heading to various after-parties.
* What deficit? A campaign fund controlled by senate majority leader Bill Frist (R-Tenn.) cannot cover its credit line due to $460,000 in stock market losses. In August of 2001, Frist 2000 took out a variable interest rate loan of $360,000 from the Nashville office of U.S. Bank.
