BREAKING: NY Gov. Spitzer Involved in Prostitution Ring, Reports Say He Will Resign

This story is on numerous sites. I’m listening to his statement as I type this. CNBC is following this closely.

His statement was brief, apologetic, but non-committal. It did not include a resignation.

When the reports hit the floor of the NY Stock Exchange, there were cheers.

This is bizarre.

UPDATE: He was apparently “Client 9”.

(Tells self: No, I will not engage in schadenfreude. I will not engage in . . . )

UPDATE: Meanwhile, loonies our friends at the Daily Kos are already blaming Bush. I’m not making that up.