Good news for the Giants:

Giants keep Spagnuolo, make him NFL's highest-paid D-coordinator

Bad news for the Redskins:

With Spagnuolo out of the running, former Giants head coach Jim Fassel emerges as the leading candidate to get the Redskins job.
They would be FOOLISH to hire Fassel. That would be a disastrously bad idea.

And honestly, if Spagnuolo had a shot at the head coaching job, he was foolish not to take it. The Redskins are a great organization that can't seem to find the right fit at coach to give them some much needed stability.