According to a New York Times scoop, New York Governor Eliot Spitzer has been caught in a federal wiretap investigation of a high-priced prostitution ring. He just gave a press conference, where he apologized but did not suggest he would retire.

More info on the PR aspects as they become available.

Spitzer's has many enemies from his time as AG, and his rocky first year in office. We expect there will be much more on this in the coming days. We have to wonder if the media or investigators will connect Spitzer's habit with state funds. Apparently prostitutes range from $1000 to $3300 per hour.

I caught some the words live:

I want to briefly address a private matter.

I have acted in a way that violates the obligations to my family, and violates my, or any sense of right or wrong.

I apologize first and most importantly to my family. I appologize to the public whom I promised better.

Violates my obligation to my family. I apologize to the public for not fulfilling my promise. I do not believe politics is about individuals but about ideas, the public good, and doing what is best for the State of New York. I must dedicate some time to regain the trust of my family.

I will not be taking questions.

UPDATE: Full text of the statement on the NY.gov site.