David Rivera, whom I identified today as the "bad boy" of the 2010 Republican freshman class in Congress, has just admitted to taking $137,000 in previously undisclosed loans from his godmother's and mother's marketing company. The loans, which he says have since been repaid, were connected to a $500,000 deal he negotiated on the company's behalf with a dog track.

The article notes that the loans had not been disclosed on Rivera's state legislative disclosure forms, apparently because they were considered "contingent liabilities" and were therefore exempted.