Just breaking news from CNN and the New York Times:

"Former White House aide I. Lewis "Scooter" Libby was convicted today of obstruction, perjury and lying to the FBI in an investigation into the leak of a CIA operative's identity.

Libby, the former chief of staff to Vice President Dick Cheney, was accused of lying and obstructing the investigation into the 2003 leak of CIA operative Valerie Plame's identity to reporters.He was acquitted of one count of lying to the FBI.Libby had little reaction to the verdict. He stood expressionless as the jury left the room." 

Libby's specific offenses appear to involve intentional deceit of the federal grand jury investigating the Plame leak, falsely describing his conversation with Tim Russert to FBI agents, perjury over this matter in court, and a second count of perjury regarding conversations with other reporters. The second count of making a false statement, involving Time reporter Matt Cooper, was met with acquittal.

While Libby faces a maximum of 25 years in prison and $1 million in fines, he has in the meantime been released on his own recognizance. Though this is a great victory in beginning to uncover the depth of deception within the Bush administration, it is sad to note that this case is merely tangential to the most significant fraud in recent American history. Stemming from the infamous State of the Union claim that Iraq sought uranium from Niger, this conviction is still so many steps removed from the (unlikely) prosecution of the architects of this war who deliberately misled the American people.