UPDATE: Sarah Palin Resigning

GOP sources report that Alaska Gov. Sarah Palin will announce today that she will not seek re-election in 2010, setting the stage for an expected 2012 presidential bid. Tina Fey is going to have lots of work.

UPDATE: The news is much bigger: Palin is resigning. Alaska Lt. Gov. Sean Parnell will be sworn in at the end of July. More to come.

UPDATE II: Just watched Palin's press conference. Bizarre. No specific reasons given, just a reference to attacks on her son, Trig, a rambling history of the acquisition of Alaska, and a lamenting of having to defend numerous ethics charges. Palin didn't appear to be reading from any notes and the Lt. Governor seems rather stunned. The Freepers are very unhappy. Some say that she's taking the high road and leaving politics entirely to care for her family, some suspect a coming scandal - and many are calling her political career over.