Like other Washington diarists, Bob Packwood no doubt wishes he had kept his thoughts to himself. And at the end of last week, so did his Senate Republican colleague Phil Gramm of Texas. A March 1992 entry by the Oregon Senator puts himself, Gramm--then head of the G.O.P. committee that finances Senate candidates--and two of their aides in a brief discussion about funneling an illegally large amount of national-party money to Packwood's re-election campaign. "And what was said in that room would be enough to convict us all of something," Packwood wrote to himself. "[Gramm] says, now, of course you know...

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