The Note: "Yada, Yada, Yada -- and So We Go"

WASHINGTON, Oct. 26

NEWS SUMMARY

ABC News' Jason Ryan reports special prosecutor Patrick Fitzgerald and several of his deputies arrived at US District Court at 8:55 am ET.

ABC News' Jason Ryan has this guidance from a Justice Department official: NO ANNOUNCEMENT FROM FITZGERALD IS EXPECTED TODAY. (Though, it should be Noted, that it is possible that the grand jury could return an indictment today placed under seal -- or a myriad of non-announcement developments.)

ABC News' Ann Compton reports that Karl Rove and Scooter Libby were both present and accounted for at the daily senior staff meeting at the White House this morning.

While we all wait, our main advice is: deep breaths and lots of water (Note: the water thing does NOT apply to those of you who expect to be doing hours of live TV.)

Our secondary and tertiary advice includes:

Indictments are not convictions.

Don't believe everything you read on the Internet.

This might or might not be a tea leave as big as all Rancho Cucamonga: Roll Call's Mary Ann Akers, in the only scoop of the cycle, hears that Fitzgerald paid a visit to Patton Boggs yesterday to see Karl Rove's attorney Robert Luskin. Akers says the hallways of the firm were abuzz with rumors that Fitzgerald will have to ask for an extension on the investigation.

If you think it is strange that Patrick Fitzgerald's team is interviewing the Wilsons' neighbors in what is believed to be the last week, consider yourself both right and wrong.

Not everything about Fitzgerald can be divined from his relationship with cats -- but almost everything.

Don't expect this story to (continue to) play out like a paperback thriller or an Oscar contender (but don't be surprised if it does).

As Bloomberg's Al Hunt sagely points out, Fitzgerald, like Imelda Marcos, could have a closet-full of additional shoes beyond what might drop shortly.

The warmth, respect, and affection that Bush-Cheney staffers feel for Mr. Rove and Mr. Libby is abundant and genuine.

There are a lot of things that aren't illegal which are politically embarrassing; people who do indictable things (and their colleagues) often have also done a lot of politically embarrassing things.

Don't try to anticipate the reaction of the public to the story as it twists, turns, and develops.

Don't let your fears/hopes that the Administration is a sinking ship distract from the day-to-day realities and customs of the Bush White House.

Fitzgerald has a history of longish indictments with plenty of narrative detail.

Please don't be surprised if the grand jury is extended, if there are many people indicted, if no one is indicted, or if indictments are issued under seal.

You have permission to be surprised if a constitutional officer is formally listed as an unindicted co-conspirator.

You have permission to be surprised if the word "forgeries" appears in any indictment.

Brace for pompous analyses galore of how wrong the coverage was -- perhaps more off-the-mark than the run-up to Justice Clement, er, Roberts.

Oy: another round of blog stories.

Meanwhile, in a parallel universe, President Bush addresses the Economic Club of Washington, DC at the J.W. Marriott Hotel at 1:00 pm ET today. He also tends to international affairs at the White House today where he will meet with the U.S. ambassador to Iraq at 9:20 am ET and with the prime minister of Macedonia at 2:20 pm ET.

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