On foxsports.com they have a story about Micheal Phelps confirming that he was indeed taking bong hits at a party.
The fact that a 23 year old kid was taking bong hits doesn't surprise me, but the stupidity of Phelps to do it in public at a college party does. Phelps could lose millions in endorsements over this incident. If you are going to do illegal stuff do it in the security of your own home. Do it away from the millions of cell phone cameras and the people looking to make a buck your expense. He has said sorry and that it was a youthful mistake and I believe that he is sorry. The question is how will Visa and Kellogs feel in the future about him marketing their products and services.