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Robert Torricelli, a powerful fund-raiser who helped raise more than $100 million for the Democratic party, took inappropriate gifts from a businessman, including an $8,000 gold Rolex watch, for which he was severely admonished by the Senate Ethics Committee in July. To recap: raising $100 million in contributions from gigantic corporations - ethical; taking a watch - unethical. That's the Senate Ethics Committee, an oxymoron since 1974.