Rangel (D-N.Y.) has been under the House ethics committee's microscope since early 2008 after it was reported that he may have used his House position to benefit his financial interests. Two of the most serious inquiries have focused on Rangel's failure to declare $239,000 to $831,000 in assets on his disclosure forms, and on his effort to raise money for a private center named after him at City College of New York using his congressional letterhead.

In March, Rangel reluctantly stepped down as chairman of the Ways and Means Committee -- a week after the ethics panel ruled in a separate case that he had broken congressional gift rules by accepting trips to conferences in the Caribbean that were financed by corporate interests. The panel said that, at a minimum, Rangel's staff knew about the corporate backing for the 2007 and 2008 trips -- and that the congressman was therefore responsible.

http://www.washingtonpost.com/wp-dyn/content/article/2010/07/22/AR2010072204704.html?wpisrc=nl_pmheadline