Paterson Won't Run; Will Street Foe Cuomo?

NEW YORK (TheStreet) -- David Paterson, whose unexpected road to the governorship of New York has been troubled from the start, announced Friday that he would not seek election to a full term.

At a press conference, Paterson said all the usual things about public service and stepping aside when one becomes a distraction to the greater good, referring to himself at one point as having "become a celebrity cartoon character made fun of by the public."

Paterson said that he has always tried to do right by the public, and that he rests assured that he did his best, working hard, even when he had to stand-alone.

There had been prior indications that Paterson would ignore requests from political power brokers to step aside and would move ahead with his campaign. Now the question is whether he can even finish out his term without further cries for his resignation.

Paterson's decision to not seek election has been at least partially provoked by accusations of assault made by a woman against one of Paterson's top aides, David Johnson, and further accusations that Paterson and the state police attempted to cover up the domestic assault complaint.

Paterson said during the press conference that he had never abused his office, and that he looked forward to a full investigation.

Attorney General Andrew Cuomo, who is investigating the domestic assault case and cover-up -- and who has also been a thorn in the side of Wall Street for some time, picking up where Spitzer left off during his tenure as attorney general -- is expected to be the Democratic nominee for governor.