Two key Senators are still driving SEC's controversial probe into Pequot Capital Management. Arlen Specter and Charles Grassley have informed the SEC that information presented by Senate investigators on the Pequot case was "inconsistent, incomplete and contradicted by documentary evidence." They also say that the agency seemed "unaware" of important documents and meetings involved in the probe. The bottom line is that many questions remain unanswered. The key issue is whether an SEC investigator was dissuaded (and later fired) from questioning John Mack, a major Bush contributor.

> Here's the New York Times article (sub. req.)