In the age of TMZ, social networking and cell phone cameras, privacy is dead - especially for celebrities. As much as they try to hide it or deny it, the public knows when a celebrity starts dating someone new, when they get arrested or in a car accident. It's only a matter of time before more details become public and Tiger loses his control of the flow of information. His best bet may be to come clean - in more direct terms than his statement on his website about his "transgressions" - because his assertion of his privacy seems almost defiant at this point. If he comes clean, he will still maintain control of the flow of information about him.
If history is any indication, America is willing to forgive its athletes for wrongdoing. Kobe Bryant admitted to cheating on his wife, came clean, and has slowly recovered many of the endorsements he lost. Has anyone mentioned Andy Pettitte in the same sentence with "performance enhancing drugs" since his admission in 2007? On the other hand, America does not appreciate defiance... just ask Mark McGwire and Barry Bonds.