Morning Buzz: March 18, 2008

Is there something in the water in Albany? According to the New York Daily News, New York Gov. David Paterson, after being questioned by the paper, has admitted to having an affair from 1999 to 2001 with another woman while still being married to his wife, Michelle. But here's a twist: Michelle, the paper reports, had an affair as well. "This was a marriage that appeared to be going sour at one point," Paterson is quoted as saying. "But I went to counseling and we decided we wanted to make it work. Michelle is well aware of what went on."

Responding to continued unrest in Tibet, the Dalai Lama has threatened to abdicate his post as leader of the Tibet-in-exile government if his followers abandon a nonviolent posture against Chinese forces. "If the Tibetans were to choose the path of violence he would have to resign because he is completely committed to nonviolence," one of the Dalai Lama's top aides said. "He would resign as the political leader and head of state, but not as the Dalai Lama. He will always be the Dalai Lama."

The Federal Reserve is preparing for another round of "aggressive" interest rate cuts when it meets today, analysts say. The central bank is expected to cut rates by up to a whole point to help stabilize the sinking national economy.