The Washington Post and other news organizations reported this morning that U.S. Rep. David Wu (D-Ore.) will resign. 

But in a statement, Wu says he will not leave office immediately.

After months of reports in WW and The Oregonian about Wu's bizarre and erratic behavior, leading to the mass departure of his key staff, a Friday Oregonian report about an alleged sexual assault by Wu on the teenage daughter of an old friend led the Congressman to lose all support from Democratic Party leaders.

Fox News has posted a copy of Wu's statement:

“It has been the greatest privilege of my life to be a United States Congressman. Rare is the nation in which an immigrant child can become a national political figure. I thank God and my parents for the privilege of being an American."Now, however, the time has come to hand on the privilege of high office. I cannot care for my family the way I wish while serving in Congress and fighting these very serious allegations."The well-being of my children must come before anything else. With great sadness, I therefore intend to resign effective upon the resolution of the debt-ceiling crisis. This is the right decision for my family, the institution of the House, and my colleagues."It is also the only correct decision to avoid any distraction from the important work at hand in Washington. I intend to go forward with new resolve and love of family, the State of Oregon, and our nation.”