ELIOT SPITZER ACCUSED OF BEING IN PROSTITUTION RING

UPDATE: Video:




This is the classic "Big Story". According to The New York Times, but the NY Post has better and more detailed information, reporting that Fix News has stated that Spitzer's set to resign:

Feds last week busted a diamond-studded international call-girl ring that offered well-heeled johns "fashion models, pageant winners and exquisite students" for up to $5,500 an hour - after one of the prostitutes turned on her pimp. The Times reported that it was unclear whether this was the ring Spitzer was involved with...The Emperors Club, an upscale escort service, ranked its hookers on a seven-diamond scale on its Web site and then charged its wealthy clientele accordingly for "dates," court papers said.
Four people were charged with prostitution and tax crimes for allegedly raking in more than $1 million with a stable of 50 girls that serviced clients in New York, Washington, LA, San Francisco, Chicago, Miami, Las Vegas, London, Paris and Vienna.

You will hear accounts that Spitzer was a "clean cut" person and that as Attorney General, he essentially picked on the Wall Street establishment, and the online ticket industry. In the latter, without success.

Now Spitzer's speaking and appologizing to his family. He says that he failed to live up to the standard of himself the people of New York. He did not say he would step down but that he would get back to the public. He did not deny being part of the prostitution ring.

More later.