Two senior senators said this week that the U.S. Securities
and Exchange Commission mishandled its inquiry into possible
insider trading by $7.3 billion Pequot Capital Management.
Senator Arlen Specter (R-Pa.), ranking member of the Senate
Judiciary Committee, and Senator Charles Grassley (R-Iowa),
ranking member of the Senate Finance Committee, accused the SEC
of lax oversight in its 2005 investigation into Pequot,...