Like many of you, I've read through a wide array of reaction pieces to Libby's indictment. Not surprisingly, I find myself disagreeing with two schools of thought:
1.) That Friday's news was a grand disappointment, since Rove appears to have gotten away clean.
2.) That the absence of IIPA/Espionage Act charges prove no "serious" crimes were committed.
Instead, I agree with theory #3 that's been proposed: That the charges against Libby are, effectively, leverage. The White House doesn't want a trial, to be sure. And the discovery/deposition process will only lead to more questions that will in turn, likely lead either to more indictments or a full-color unraveling of the administration's manipulation and falsification of intelligence. Fitzgerald knows this, the administration knows this. As such, the indictments against Libby are a vice with which to squeeze out the big-picture details of Who-What-When-Why. Libby is bait, pure and simple.
Heeeeeere fishy fishy fishy....