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Focuses on the investigation led by independent counsel Kenneth Starr of United States President Bill Clinton and First Lady Hillary Rodham Clinton in Arkansas. The issue of Whitewater, a failed land venture, and its link to the savings and loan, Madison Guaranty; Starr having to make a decision as to whether there was a cover-up or just political damage control; Background on the inquiry.

Reports on the inquiry conducted by the Federal Reserve into the Stephens family of Little Rock, Arkansas, involved in brokerage business, about its financial links with banks. Unusualness of the inquiry; Brief on the case; Stand of the Federal Reserve on the action to be taken after the inquiry.

Reports on the indictment of Arkansas governor Jim Guy Tucker, on charges of fraud and conspiring to defraud the Internal Revenue Service. Details of the charges; Defense by Tucker.

Presents a special report on the civil inquiry into holdings of the Stephens family of Arkansas. Already, information has been uncovered that could prove embarrassing to the family's companies. Question of the extent of the family's control and ownership of two Arkansas banks; The family empire; The tangled web of ownership.