NY Black Leaders May Call for Paterson to Resign

Yesterday's bombshell that the beleaguered NY Gov violated ethics laws by lying under oath about accepting Bronx Bombers World Series tickets may be the final strike for David Paterson.

The Daily News is reporting that Al Sharpton will convene a group of black leaders tonight in Harlem to discuss whether Paterson should resign. Sharpton is "rethinking his support" for Paterson, a Democratic Party adviser told the Associated Press.

"We'll see how it plays out during the day," an anonymous source told the Daily News. "I can't imagine anything will change people's minds."

The "Paterson to resign" by July contract last traded at 80 on Intrade, where just over 200 shares have been traded since the start of the scandal.

Bottom Line - Once Sharpton calls for Paterson to resign, the price will likely spike. If you think that's going to happen tonight, this could be a good buying opportunity.