Russ Feingold reacts to U.S. Senate loss

MIDDLETON - After three terms in the U.S. Senate, Russ Feingold has conceded his bid for re-election to Republican political newcomer Ron Johnson.

Feingold addressed supporters at the Marriot in Middleton around 11 p.m. Tuesday, calling his time in the senate the "greatest honor of his life."

"The people of Wisconsin have spoken and I respect their decision," Feingold said.  "I've enjoyed working with you and I feel we've done many great things together."

Feingold says he has spoken with Johnson and has offered his assistance in the transition of power. 

In his 28 years serving as a U.S. Senator and state Senator, Feingold had never lost a major race. Tuesday marked his first concession speech but he remained positive and asked supporters to look towards 2012.

"My heart is not weary, it's light and free," Feingold said, quoting Bob Dylan.

Campaign managers say Feingold has not thought far beyond this race and representing Wisconsin in Washington, but he hinted in his speech there may be more politics in his future.