PHIL PONCE: We get answers from NewsHour regular Stuart Taylor, senior writer with the National Journal and contributing editor to Newsweek. Joining him are Dan Webb, a former special prosecutor during the Iran-Contra investigation, and Richard Ben-Veniste, an assistant special prosecutor during Watergate, and the former Democratic counsel during the Senate Whitewater probe. Gentlemen, welcome.

Stuart Taylor, first, some basic concepts. The President’s good friend, Vernon Jordan, said that he has been subpoenaed to appear before a grand jury. What happens in that kind of a context? Is it just like appearing before a criminal grand jury?

Perjury in the context of a grand jury.

STUART TAYLOR, National Journal: It is a criminal grand jury. That’s the only kind of grand jury there is. The grand jury is a group usually of 23 citizens, although they’re not always there, in a room, you know, prosecutors running the show, and the witness walks in and testifies, they exist almost exclusively, if not exclusively for the purpose of conducting criminal investigations and returning indictments. Mr. Jordan will walk into the room. His lawyer will not be allowed to accompany him. He can wait outside. Mr. Jordan will have the option of going outside to consult with his lawyers as often as he wants. The prosecutor asks questions. Mr. Jordan has the option of claiming the Fifth Amendment. I think he made it rather clear today that he would not do that and that he would make a statement consistent with what he said–what we just saw. And then the prosecutors will ask him lots of detailed questions, presumably based on all the little things they think happened between this young woman, Monica Lewinsky, and the President and Vernon Jordan.

PHIL PONCE: And basic terminology, perjury in the context of this investigation.