Jack Flack usually sticks to business spin, and stays out of politics. But Eliot Spitzer's public statement was just too perfectly crafted not to parse.

Spitzer: Over the past nine years, eight as attorney general and one as governor...

Translation: Remember how long I've been so good? Remember?

Spitzer: ... I've tried to uphold a vision of progressive politics that would rebuild New York...

Translation: Things were really bad before me. Remember?

Spitzer:...and create opportunity for all.

Translation: ...not just the mobsters and Wall Street fat-cats I chased for you. Remember?

Spitzer: We vowed to bring real change to New York...

Translation: This was supposed to be a weigh-station on the way to becoming President of United States. .

Spitzer: ...and that will continue.

Translation: I have real cojones, and my enemies should know that I won't buckle easily.

Spitzer: Today, I want to briefly address a private matter.

Translation: This is totally separate from the job I do. Totally separate.

Spitzer: I have acted in a way that violated the obligations to my family and that violates my -- or any -- sense of right and wrong.

Translation: I wish I was running for the President of France, instead. People there aren't so uptight about the right-and-wrong thing.

Spitzer: I apologize first, and most importantly, to my family.

Translation: If they don't stand by me right now, I'm toast.

Spitzer: I apologize to the public, to whom I promised better.

Translation: I know I have always run as a crusading reformer, which makes this much worse. Man, the more I think about it, President of France sounds pretty good.

Spitzer: I do not believe that politics in the long run is about individuals. It is about ideas, the public good and doing what is best for the State of New York.

Translation: I know you can live without me, but do you really want to trade me in for Patterson? After all, I bet I could run for President of France instead. Souvenez-vous?

Spitzer: But I have disappointed and failed to live up to the standard that I expected of myself.

Translation: I'm only admitting moral guilt, not legal guilt.

Spitzer: I must now dedicate some time to regain the trust of my family.

Translation: I got my apology out in the first news cycle, and now I'm going dark.

Spitzer: I will not be taking questions. Thank you very much.

Translation: Why isn't it Friday, so this could die into the weekend? And why am I not already the President of France?

Spitzer: I will report back to you in short order. Thank you very much.

Translation: I've got to secure the support of my family first... then make sure I won't go to jail... and then determine if I can survive politically. After I run through that checklist, I'll get back to you.

Why does Jack Flack say the statement is well-crafted?

Spitzer's legal background shows, as every single word has been chosen purposefully. Some pundits will say he should have said more, but keep in mind he's under federal investigation, so the statement has to work not just in the court of public opinion, but also in a court of law.

Thus, Spitzer can't simply minimize the legal liabilities. Instead, he must also demonstrate real aptitude as a truly able politician by checking five important boxes.

1. He clearly and directly expresses contrition, and does so by starting with the wife and family first.

2. He concedes wrongdoing, but in only in terms of personal expectations, not the law. Sin can be forgiven, crime cannot.

3. He does not directly box himself into future actions, but does give an indication of resolve.

4. He makes the statement in lockstep with the NYT's breaking story, thus ensuring his apology dominates the first wave of coverage, instead of generating a second wave.

5. He makes it clear he's shutting down public communication, and that he will return when he decides the next step. He is contrite, but not panicked.

Jack Flack reminds you that no matter how well you spin, there's still not much upside in these situations. A well-crafted, timely statement does not help you nearly as much as a poorly crafted, too-late statement will hurt you.

But as tight as Spitzer's statement is, it does raise an obvious question. Given his occupation, persona, and ambitions, how could Eliot Spitzer display such good judgment under incredible pressure, after displaying such bad judgment at, uh... leisure?

UPDATE: Parsing Spitzer's resignation statement.