1. To understand this "breaking news" you must understand it's not about Christopher Steele. It's not about the author of the dossier.
2. Senators Graham and Grassley have not interviewed Christopher Steele. 
3. Senators Graham and Grassley *HAVE* reviewed documents and interviewed members of the FBI.
4. Pulling quote from NYT: "Mr. Grassley’s decision to recommend criminal charges appeared likely to be based on reports of Mr. Steele’s meetings with the F.B.I., which were provided to the committee by the Justice Department in recent weeks." nytimes.com/2018/01/05/us/…
4. Quote #2 NYT: ..."It was not clear why, if a crime is apparent in the F.B.I. reports that were reviewed by the Judiciary Committee, the Justice Department had not moved to charge Mr. Steele already."... nytimes.com/2018/01/05/us/…
5. Stay with me. Grassley and Graham are contrasting documents, surrounding the "Steele Dossier", against FBI statements made in combination with those documents.
6. There is a discrepancy between the documents (provided by the FBI) which surround and outline Steele's talks with the FBI, and the statements from the FBI officials who have talked to Grassley and Graham.
7. Meaning, what the FBI is attributing to Christopher Steele, is not in alignment with the underlying evidence of what was claimed by the FBI investigators.
8. Either Christopher Steele is lying to the FBI, *OR*, the representations to Senator Graham and Grassley by the FBI officials are false.
9. Based on the documents, and based on the evidence, someone is lying.
10. Graham and Grassley believe they know who's lying (so do I), and it ain't Christopher Steele - who carries no motive to lie.
11. The fibbers are the ones who hold the motive to lie. That would be the FBI officials who are trying to hide their 2016 use of the Steele Dossier in their counterintelligence operation. (ie. getting the FISA warrant etc.)
12. So instead of telling calling out the FBI as liars. Graham and Grassley file a criminal referral requesting the DOJ prosecute Christopher Steele as a liar.
13. Graham and Grassley know the end result of the DOJ following their request would be to discover it's the FBI who are not telling the truth.
14. Grassley's use of the documents simply highlights the conflict between the actual evidence (documents), the FBI claims and what the FBI has attributed to Christopher Steele.
15. In essence Grassley and Graham are saying to the DOJ: 'If what the FBI says is true then Chris Steele is lying, because the evidence doesn't support what the FBI previously said to us'...
See how that works?
See how that works?
15. The END 
