He is caught in a lie.
A big lie.
Rangel is instead betting on the stacked House Ethics Committee to clear him, and figures that his senior status in the chamber will insulate him. No one in Congress is going to send Rangel packing, primarily because the House Democrats are more intent on turning the swamp of corruption into a swimming pool.
As I pointed out previously, the Daily News chimes in noting that Rangel has two sets of rules, particularly on taxes. There's the rules that everyone else has to abide by, and then there's his rules, which primarily exist so that he can avoid paying taxes on his obligations. Rangel doesn't just need to be reined in. He needs to be sent packing. A slap on the wrist simply does not cut it, and the House Ethics Committee is a joke, seeing how they took no action to deal with former member William Jefferson who was caught with a $90,000 bribe in his freezer.
More at Insty, where I found this