John Edwards Cops to Affair, Love Child; Wife Releases Separate Statement
Why now? Well, he had to do it sometime. Edwards has no credibility left, so this statement is just a formality.
Everyone knows about the kid; His staffer Andrew Young, who originally claimed Frances Quinn was his kid, is putting out a tell-all book; the new book Game Change has a lengthy and hilarious description of all the Edwards anguish; Edwards is said to have signed a child support agreement. There may also be a legal angle, as Edwards is being investigated for possibly using election funds to cover up his affair.
The next expected development would be on the Elizabeth Edwards front. Edwards' wife has released her own statement saying she is aware of the paternity of the child, rather than a joint statement with her husband. Maybe the next time we hear from her it will be something like a Jenny Sanford statement.