Breaking news is that the FBI taped telephone calls between Veco CEO Bill Allen who has pleed guilty to bribery and Alaska Senator Ted Stevens (R-AK). I saw it first at TPM and they are quoting CNN and AP as sources.
The FBI, working with an Alaska oil contractor, secretly taped telephone calls with Sen. Ted Stevens as part of a public corruption sting, according to people close to the investigation. . . .
The recorded calls between Stevens and businessman Bill Allen were confirmed by two people close to the case who spoke on condition of anonymity because the investigation is still under way. They declined to say how many calls were recorded or what was said.
There is the quote from the AP. Veco is the company that remodeled Stevens home and CEO of Veco Bill Allen has pled guilty and is cooperating with authorities. The breaking news today is that he may have been cooperating for far longer than previously thought and possibly agreed to make these calls after being confronted with evidence of his activities. Here's an AP article with more detail.
Update: I edited the title to reflect the fact that some posters felt the original title was an oversell and presumptive about what was on the calls taped and I agree.