Arlen Specter: “I seek recognition, along with my colleague from Iowa, Senator Grassley, to inform the full Senate of the conclusion of…”

“I seek recognition, along with my colleague from Iowa, Senator Grassley, to inform the full Senate of the conclusion of our joint investigation into allegations of abuse of authority at the Securities and Exchange Commission and of the availability of our findings and recommendations. On January 31, 2007, Senator Grassley and I came to the floor and submitted the ``Specter- Grassley Interim Findings on the Investigation Into Potential Abuse of Authority at the Securities and Exchange Commission.'' Senator Grassley and I did not want to delay in expressing our concerns about, No. 1 the SEC's mishandling of the investigation of potential massive insider trading by a hedge fund which we recommended be reopened; No. 2, the circumstances of the termination of SEC attorney Gary Aguirre, who was leading the investigation; and No. 3, the manner in which the SEC's Inspector General's Office handled Aguirre's allegations that he was terminated for improper reasons, including pressing too hard to interview a witness in the investigation. We were concerned about what appeared to be managerial interference with the independence and doggedness of an SEC attorney who was determined to follow the evidence wherever it might lead. Today, we file our comprehensive report and recommendations-- comprising nearly 100 pages of annotated findings and recommendations-- with the Senate Judiciary and Finance Committees.”