Originally Posted by
TrekSandra
I've ridden the bike. The seatpost does NOT slip when I ride it. Now about the slot at the top.

At the top, it's together/touching when the bolt is completely tightened. I can't imagine how a 26.4 would even give it much distance in the space!
Sounds like luker may have been right about someone crimping it down so that a smaller post could be used, then. I'd take it to a bike shop and have them look at it, see if everything looks okay to them. Or can you post a pic of the binder bolt area?