Breaking: Libby Verdict

Scooter Libby is found guilty on four of five counts with which he was charged. There will be endless speculation about this in the next few days, and indeed, within the Texas Blue offices, some of that has already begun. Some of us are convinced he'll receive a pardon just like Caspar Weinberger did in Iran-Contra. I think, if anything, the case will get locked up in legal proceedings until someone throws it out, like they did with Oliver North. However, I think it is much more likely that Scooter may take it for team on this one.

With Iran-Contra, a lot of guys did a lot of bad things and the trial reflected that. In this case, a lot of people contributed to doing a couple of bad things, and only one guy has been singled out. Outside of setting up his legal defense fund, no one has really gone to bat for Libby, and I think it is unlikely that anyone will, but it is not implausible that more details may come to light. Fitzgerald said they don't have plans for additional charges against Libby, but I don't know that that means there won't be new charges for other people. It is unlikely, yes, but this is a big deal and there may be a push for more sunlight in the corners.

Sentencing will happen June 5. You can almost guarantee there will be an appeal. Defense counsel has already made a formal motion to have the appeal period extended. There's probably already a motion drafted for a new trial.

Libby could get 25 years in jail, and huge fines. Huffington has a great rundown, as does MSNBC.

Again, here's the breakdown:
Count 1 (Obstruction of Justice): Guilty
Count 2 (False Statement to FBI - Russert): Guilty
Count 3 (False Statement to FBI - Cooper): Not Guilty
Count 4 (Perjury to the Grand Jury - Russert): Guilty
Count 5 (Perjury to the Grand Jury - Cooper): Guilty