Update 2:  Governor Eliot Spitzer announced that he will resign on Monday, March 17, at Lt. Governor David Patterson’s request.  In a speech lasting 2 minutes 41 second (WABC pegged it at 90 seconds, but I stick by my timer), that ranged from the self-serving to the insulting, somehow promoting the idea that he was resigning because he was living up to his own ideals of justice, as if this redeems his conduct and proves that he remains the avenging angel of morality, he barely managed to get out any inkling that this was all about him resigning.

It was a poor showing.  I was offended that the bulk of his speech remained self-promotional.  He claimed to be doing this to take responsibility for his failings.  If he wants to take responsibility, there’s a coutroom waiting for him downtown.

Additionally worthy of note was that Spitzer arrived late for the press conference, which was scheduled for 11:30, because his car was stuck in midtown traffic.  The news showed helicopter shots following the car through traffic to the State Office Building, like a O.J. low-speed chase, as if his car might take a surprise left and head for the West Side Highway.  Needless to say, watching his black SUV stuck in midtown traffic only served to heighten the ancitipation.  Well, not really.

Update:  Media outlets everywhere are announcing the Spitzer will resign this morning.  Word is that he is informing top officials first and then will make the public announcement. 

Eliot Spitzer learned that he was a target of a federal prosecution, Client-9 (the first good use for the Beatles’ White Album song ever) on Friday, and issued his public “apologia” on Monday.  He had the weekend to consider his options.  He chose an apology, with his poor wife Silda, looking like an advertisement for Thorazine, at his side.  It did not solve the problem.

Not only did it not solve the problem, but it has raised the problem to levels unseen since Hillary’s husband didn’t have sex with “that woman.”  One would think that the Governor would have a reason.  This is a very smart, if very foolish, man.  It is impossible to believe that he hadn’t given thought to where he was going after the apology, and he must have anticipated the groundswell of interest and abuse it would generate.  He MUST have.

So why is Eliot Spitzer silent?  Mike at  Crime and Federalism has posted about the speculation from CBS news that he is playing the governor card to cut a deal with the feds.

Eliot Spitzer is going to resign his post as governor. Sources tell CBS 2 HD he’s using the resignation as a bargaining chip with the feds. But after negotiating all day there was still no deal Tuesday night.

Spitzer doesn’t have the luxury of playing deal or no deal. Experts agree that his involvement in a prostitution ring makes him damaged goods.

If the strategy is to offer up his office in exchange for a deal, then Spitzer is a bonehead, his advisers are morons and he needs a new lawyer badly.  But I don’t believe this to the strategy, and I don’t believe any of them are as inept as to think that the governorship is a viable bargaining chip.  Even Michelle Hirshman, despite her  dubious qualifications to defend anyone, should know better, and I believe she does.

The unknown in this scenario was the depth and length of the public’s and media’s attention span.  This just isn’t an everyday type of problem, and it is unclear whether it would be a hanging offense or just the  Letterman joke of the week.  A day or two of waiting wasn’t going to change whatever clamor this situation would bring.  If he was dead, he would be dead a few days later.  If not, why commit suicide?

As it turned out, this is huge.  It would have been huge for any top level politicians, but it’s particularly huge for someone who’s career is built on the bodies of the indiscreet and has sold himself as the avenger of the righteous.  I can think of no time in Eliot Spitzer’s career that he showed any mercy, and despite  my suggestion to the contrary, no one is showing him any mercy in return.

Should it turn out that Spitzer’s relinquishment of office is tied to a plea deal for his conduct, whether it be structuring (breaking up sums of money to avoid reporting requirements or recognition that it would generate suspicious activity reports) or even the Mann Act (traveling across state lines for the purpose of prostitution), it would generate yet another outcry of impropriety, this time including the United States Attorney, political favoritism and abuse of his office.  It would be the only thing that could make this situation worse.

The problem for Spitzer right now is that his apology was insincere (or at least not nearly as sincere as it should have been), and his conduct egregious in light of his law-enforcer persona.  It was a tactical gambit that didn’t work, but has an impact on the availability of his subsequent options.  He can’t get a do-over.  He can’t trade-off his office for a sweet deal.  He can’t deny his involvement.  And he’s got nothing to give up.

Nor can Spitzer find comfort (as many have suggested) in the technicalities of federalism (what right does the federal government have to interfere in the service of a duly elected governor) or common practice (johns don’t get prosecuted, especially for structuring).  He is a governor.  He is not an ordinary target.  And sometimes johns do get arrested and prosecuted, even if it doesn’t happen every time.

We are nation of law, not men, or so the saying goes.  When situations like this are rubbed in our nose, the government has to put up or shut up.  What could be more cynical than to let a Governor get away with something like this?  It can’t happen, and it shouldn’t happen.

So what should New York Governor Eliot Spitzer do now?  I’m available for consultation, and I have a few ideas.  Operators are standing by.