Quick addition: USA Today reached the same opinion of Stevens today as well. 

According to public records and officials in Alaska, The Hill reports that Sen. Ted Stevens (R-AK) "has quietly steered millions of federal dollars to a sportfishing industry group founded by Bob Penney, a longtime friend who helped the Alaska Republican profit from a lucrative land deal." While the FBI, and possibly a jury, will decide if Stevens has abused his official position it is clear enough that the senior Senator has acted in a manner that is unethical for a United States Senator and a powerful committee chairman (yesterday I wrote that Stevens is the Appropriations ranking member, he is actually ranking member on the Commerce, Science, and Transportation Committee, the second ranking member on Appropriations, and the Defense Appropriations Subcommittee ranking member).

Despite the mounting evidence against Stevens he continues to have the support of the Republican leadership and has not been stripped of his committee assignments. Sen. Larry Craig was stripped of his committee assignments and forced to resign (although he is now reconsidering) because he engaged in potentially lewd conduct that was not of the party sanctioned variety. What is more important, sexual, or potentially sexual, behavior or the betrayal of trust and abuse of official, elected positions to gain money and aid your rich buddies? I’ve seen this scale before and I know which way it should be tilting.