Spin Cycle

News, views and commentary on Long Island, state and national politics.

From the Associated Press

"ALBANY, N.Y. (AP) — New York Gov. David Paterson
is lashing back at what he calls an orchestrated, scandalous assault on his character that includes unsubstantiated accusations about womanizing and drug use that he flatly denies.
 The Democratic governor tells The Associated Press that the media and New York politics have hit new lows, but it won’t stop him from serving in office or seeking election to a full term in the fall.
 He cited one published report that he was caught by state police in the mansion with a woman other than his wife as fabricated. He said the room in which he was reportedly caught doesn’t even exist.
 He would only address other accusations broadly, but denied all the
sexual relationships and drug use that are among the unproven
accusations."

Suddenly, for this nanosecond, it looks like the speculation market on other news organizations' disclosures is drooping. If the Times comes out with something less than satisfactory in the Paterson-damage department, however, it could give rise to a new round of unsubstantiated yak that the editors there were somehow talked out of the juicy stuff. So it's a heads-I-win, tails-you-lose proposition from the point of view of investors in the resignation bubble.

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Further reports after the market re-opens tomorrow.

Update: This piece from Wayne Barrett could also drive prices down.