WASHINGTON - A Texas grand jury on Wednesday charged Rep. Tom DeLay and two political associates with conspiracy in a campaign finance scheme, forcing the House majority leader to temporarily relinquish his post.

DeLay was accused of a criminal conspiracy along with two associates, John Colyandro, former executive director of a Texas political action committee formed by DeLay, and Jim Ellis, who heads DeLay's national political committee.

"I have notified the speaker that I will temporarily step aside from my position as majority leader pursuant to rules of the House Republican Conference and the actions of the Travis County district attorney today," DeLay said.

WASHINGTON - Blind trusts are designed to keep an arm's-length distance between federal officials and their investments, to avoid conflicts of interest. But documents show that Senate Majority Leader Bill Frist knew quite a bit about his accounts from nearly two dozen letters from the trust administrators.

Frist, R-Tenn., received regular updates of transfers of assets to his blind trusts and sales of assets. He also was able to initiate a stock sale of a hospital chain founded by his family with perfect timing. Shortly after the sale this summer, the stock price dived.

A possible presidential contender in 2008, Frist now faces dual investigations by the U.S. attorney for the Southern District of New York and the Securities and Exchange Commission into his stock sales.