Feb. 27, 1989:

Wright Is Wrong button

Speaker Jim Wright was already the target of House conservatives who disagreed with his opposition to funding Nicaraguan Contras.

The House ethics committee begins its review of allegations against Speaker Jim Wright (D-TX), who has been under investigation for eight months over his finances. Eventually the committee will rule that Wright violated House rules.

Speaker Wright will announce to the House on May 31 that he will resign, rather than continue to fight the charges. He blamed "mindless cannibalism" by "self-appointed vigilantes" for his fate.

House Majority Leader Tom Foley, a Washington Democrat, will become the new speaker.

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9:18 - February 27, 2009