Spitzer to Resign Wednesday

According to WCBS in New York, Spitzer's resignation could come as early as Wednesday.

NEW YORK (CBS) ― Gov. Eliot Spitzer is set to resign Wednesday, sources tell CBS 2 Political Reporter Marcia Kramer, but insiders say he's going to use the resignation as a bargaining chip to cut a deal with federal prosecutors and he won't step down until that happens. The talks have been going on since Tuesday morning.

The governor's fate rests in the hands of two people: U.S. Attorney Michael Garcia and Michele Hirshman, the head of his legal defense team. The deal they cut will determine Spitzer's future.

Criminal law experts say Spitzer will definitely have to resign the governorship and that what's involved in the deal is key.

So what's the best that could happen to him?

"No charges, absolute resignation, and contrition. I think the worst that could happen is a felony plea on one of a number of charges that they could lodge against him," said noted criminal attorney Ronald Fischetti, who has often had to negotiate with feds on behalf of clients.

Still, Fischetti said Spitzer stands no hope of ever regaining political respect again.

"I think his career politically is at an end," he said.

The very real problem for Spitzer, as he well knows having been a prosector and the former Attorney General is that he could be charged with a number of things that carry jail time: tax evasion, money laundering, bringing a prostitute across state lines from New York to Washington.

He also has another problem in the negotiations with Garcia, who could be feeling pressure to throw the book at him.

"It's very important that [Garcia] expresses to the public that everyone is treated alike and if he doesn't charge someone who was the Attorney General and prosecuted crimes, he will be subject to a lot of public criticism that he let [Spitzer] go because he was the governor," said Fischetti.

Lawhawk, the answer is No -- as in NO, the article did not mention Spitzer's political affiliation, which is democrat. I am sure that surprises you and everyone else.

Also, this tidbit from the New York Post which Lawhawk reported on earlier:

Gov. Eliot Spitzer has been soliciting high-priced hookers for at least six years and possibly for more than a decade, sources tell The Post.

The revelation yesterday that the crusading governor was in fact "Client 9" named in a federal prostitution indictment did not shock insiders in the city's sex industry.

Sources tell The Post that Spitzer had frequented high-priced hookers as far back as 2002 and possibly earlier.

(HT: http://www.polijam.com)

And lastly, you have to LOVE this interview with Ken Langone, former NYSE board member about Spitzer. You can say that Wall Street has no love for the governor.

UPDATE [lawhawk]:
No surprises here, but bear this in mind about the talk of New York Republicans impeaching Governor Spitzer. It's never going to happen. They simply don't have the numbers in the Assembly to get it done. You need majority of the Assembly to vote for impeachment in order for it to move to the Senate who must also vote in favor of impeachment to remove a governor legislatively. Republicans are outnumbered in the Assembly 107-42 [updated and corrected the Democrat tally]. Do the math.

It's an idle threat at best.

UPDATE [lawhawk]:
Here's another reason for the delay in Spitzer proffering his resignation. I suspect he's trying to preserve his law license. A felony conviction would mean that he'd be done as a lawyer in New York. Some of the state charges might be misdemeanors, but the federal charges may include multiple felonies.

UPDATE [lawhawk]:
The Times Union has an interesting bit about Paterson, including some prior health concerns:

Paterson stayed out of the public limelight, but his aides took a few questions, including one about his health.

A fainting spell last summer during a flight, the aide said, was checked out by experts who said Paterson is in good health but has a condition that is easily remedied if he discontinues sleeping when his collar is buttoned.

The Harlem Democrat, poised to become New York's first African American governor, is readying to take over his boss' job under provisions of succession in the state constitution. "He'd be foolish not to," a close aide to Spitzer said.

They also interviewed Democratic Assemblyman Adam Clayton Powell IV, who has been in trouble with the law before and most recently was arrested for DUI, and it sounds like he's sympathetic to Spitzer. He wasn't alone:

Assemblyman Carl E. Heastie, D-Bronx, was among several Democrats who said some lawmakers are unfairly judging Spitzer.

That isn't to say that some Democrats are also starting to put out the call for him to resign, including Rep. Kirsten Gillibrand, D-Greenport.