Spitzer resigns as New York governor.

Today, Eliot Spitzer announced that he is stepping down as governor of New York state, after his involvement in a high-end prostitution ring was revealed earlier this week. His resignation will be effective on March 17. Watch it:

Lt. Gov. David Paterson will now take Spitzer’s position, becoming the state’s first African-American and blind governor, and only the third African-American governor since Reconstruction.

UPDATE: Lt. Gov. David Paterson has put out a statement:

Like all New Yorkers I am saddened by what we have learned over the past several days. On a personal level Governor Spitzer and Silda have been close and steadfast friends. As an elected official the Governor has worked hard for the people of New York.

My heart goes out to him and to his family at this difficult and painful time. I ask all New Yorkers to join Michelle and me in prayer for them.

It is now time for Albany to get back to work as the people of this state expect from us.

Transcript:

SPITZER: In the past few days I have begun to atone for my private failings with my wife Silda, my children and my entire family. The remorse I feel will also be with me. Words cannot describe how grateful I am for the love and compassion they have shown me.

From those to whom much is given, much is expected. I have been given much: the love of my family, the faith and trust of the people of New York, and the chance to lead this state. I am deeply sorry that I did not live up to what was expected of me.

To every New Yorker, and to all those who believed in what I tried to stand for, I sincerely apologize.

I look at my time as governor with a sense of what might have been. But I also know that as a public servant, I and the remarkable people with whom I work have accomplished a great deal.

There is much more to be done, and I cannot allow my private failings to disrupt the people’s work.

Over the course of my public life I have insisted — I believe correctly — that people, regardless of their position or power, take responsibility for their conduct. I can and will ask no less of myself.

For this reason, I am resigning from the office of governor. At Lieutenant Governor Paterson’s request, the resignation will be effective Monday, March 17, a date that he believes will permit an orderly transition.

I go forward with the belief, as others have said, that as human beings our greatest glory consists not in never falling, but in rising every time that we fall.

As I leave public life, I will first do what I need to do to help and heal myself and my family. Then I will try once again, outside of politics, to serve the common good and to move toward the ideals and solutions which I believe can build a future of hope and opportunity for us and for our children.

I hope all of New York will join my prayers for my friend David Paterson as he embarks on his new mission. And I thank the public once again for their privilege of service.

Thank you very much.