Simple.

Both should resign.

I care not of the nuances of various acts. The fact is, if you're in politics, and you have, or may have in the future, the ability to influence decisions that can effect your sugar daddy, er, lifelong family friend, then you have no business accepting gifts/services/benefits. 

Don't like it? Leave politics.

Further, Obama left a long skid mark on his presidency by partying with the billionaire class right after he left. How much of his trip(s) were bought and paid for whilst he was still president, in the form of some small, unnoticed regulatory change?