Liveblogging Spitzer's news conference: Just how is he 'involved' in a prostitution ring?


The New York Times has reported that New York Governor Eliot Spitzer -- my governor, a man I voted for, covered when he was Attorney General, and have defended in many a heated conversation with friends and colleagues -- has admitted to being 'involved' in a prostitution ring.

How is he involved? Let's just say, I don't think he has been running the thing. In fact, as of this writing, I'm still holding out a smidgen of hope that the report is somehow wrong. Maybe he was just investigating it! (Okay, wishful thinking).

When the news conference starts -- presumably any minute (It's now 2:45 PM) -- I'll liveblog it to the best of my ability here (refresh this post to see updates). Then you too, can be among the first to know what Spitzer, possibly this century's greatest law-and-order hypocrite, has to say for himself.

3 PM: We're still waiting for the press conference to start. But CNBC has reports that government investigators have text messages of some sort. The discussion on TV now is that Spitzer will have to step down if there is any truth to this story. Commentators are also reprising just how zealous Spitzer was in his prosecutions of Wall Street executives. Silly me, I thought that meant he really knew the difference between right and wrong.

3:13: Oops! missed it! That was quick. Spitzer read a brief statement. All I heard was him apologizing to his family.

3:15: Rewind: He said, "I have I've acted in a way that violates my obilgations to my family and that violates my or any standards of right or wroing. I apologize first and foremost to my family."

3:17: Now I'll add that he didn't step down. He started off his announcement calling it a "private matter." He did say that he would need some time to deal with this matter (he hopes to regain the trust of his family -- good luck) and would not take questions, but would come back to the public with more. He did not say what he did. He just apologized and said he "failed to live up to the standards" of his office. No kidding!

3:20: All I can say is, that wasn't a very satisfactory or satisfying news announcement. All we know is he did something really bad. His family was the most egregiously transgressed upon. And he'll fill us in more later. I for one am eager for more answers.

3:22: Thanks for nothing, Eliot. More scoop coming from the New York Times: He was apparently caught on a wiretap arranging to meet a high-priced prostitute in Washington in January.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-125.1412,765.32
NASDAQ-23.332,903.90
S&P 500-11.311,340.64

Last updated: February 10, 2012: 03:00 PM

Hot Stocks

General Electric

18.835-0.295(-1.54)

Alcoa

10.275-0.365(-3.43)

Apple Inc

493.85+0.68(+0.14)

Google Inc 'A'

606.21-5.25(-0.86)

Bank of America

8.075-0.105(-1.28)

Wal-Mart Stores

61.60-0.36(-0.58)

Exxon Mobil Corp

83.52-1.36(-1.60)

Ford

12.445-0.245(-1.93)

Citigroup

32.85-0.81(-2.41)

IBM

191.70-1.43(-0.74)

Yahoo

16.19+0.19(+1.19)

Starbucks

48.64-0.56(-1.14)

Microsoft

30.57-0.20(-0.65)

Home Depot

45.16-0.11(-0.24)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1328904037165 ms.