Is Spitzer 'Client #9?'

New York Gov. Eliot Spitzer today apologized for his reported involvement in a prostitution ring.

The brewing scandal was first reported in the New York Times, which said Spitzer told senior administration officials in his office of his involvement. The newspaper now reports that the governor was caught on a federal wiretap arranging to meet a pricey prostitute at a Washington hotel last month.

"I have acted in a way that violates my obligation to my family" and the public, Spitzer said during a brief press conference around 3:15 p.m. ET. "I promise better." He went on to say he is "disappointed" he has not lived up to the standards he set for himself, adding that politics is "not about individuals" but about "policy" and the "public good."

Spitzer, who is married with three children, did not mention the prostitution ring and did not say whether he would step down from office. "We sought to bring real change to New York, and that will continue," the Democratic governor said wit his wife by his side. "I must now dedicate some time to regaining the trust of my family." He added that he would "report back" to us.

Translation: He's probably going to ride it out and try to stay in office.

Federal prosecutors last week arrested four people in connection with a prostitution operation. Administration officials have not yet said whether this is the operation Spitzer had any involvement with but a 46-page affidavit now floating around gives details of that operation, in which there are many references to "Client 9," who was caught on the wiretap. "Client 9," who arranged to have a prostitute travel from New York to Washington, is said to be Spitzer. You can read the complaint here. Talk of "Client 9" begins around page 28. The news has New York politicos and others reeling.

"I'm sitting here in shock right now, along with a lot of other New Yorkers," David Schwartz, a former NY prosecutor, told MSNBC. "Politically, I would think this is a complete disaster for the governor."

Spitzer, who has prided himself on being a tough crime and fraud buster and was known as the "sheriff of Wall Street" for his role as state attorney general before being elected governor, is in his first term. He has had a rocky administration so far, particularly with his relations with state legislative leaders.

Fred Dicker of the New York Post, who is at the Albany capital building, called the story "shocking" and said Spitzer aides are not refuting the story. "If this is true, few people think he can survive, politically." He added: "This is the biggest political story in modern New York history ... this capital is in shock."