We were beginning to feel lonely around here. For the past couple of weeks we felt like we were the only folks who remembered that former SEC investigator Gary Aguirre had gone before a Senate committee and alleged political corruption at the SEC. Even the banking committee, which allegedly has oversight responsibility over the SEC, didn’t seem to care.
Well, it looks like Aguirre has a friend in Senator Arlen Specter.
Specter is expected to question Cox on a number of issues involving Aguirre's investigation, but also the broader issue of how well the commission investigates hedge funds, according to people close to the matter. These people say that while Aguirre doesn't appear to have a smoking gun that points to Mack violating insider trading laws, Specter believes that the agency erred in not taking Mack's testimony earlier, and will likely point that out during the meeting.
SEC Chairman Cox and Specter to discuss hedge funds [SquawkBlog]