I think the right wing is actually barking up the wrong tree in trying to tie Obama to Blago. Based on the quotes in the complaint, the more probable scenario is that Obama was actively involved in the investigation given Blago's rather colorful references to Obama's administration. Search "Senate Candidate 1," who is believed to be Jarett, and it appears that with each reference, Blago is saying "Fuck them" for not giving him anything in return for appointing Jarett.
Obama is ruthless AND smart. I would not put it beyond Obama to do his civic duty and refer the Feds to an idiot who is trying to extort him. Quite honestly, I think it sends a loud, clear message to not fuck with the President-Elect by demanding kickbacks in return for appointments. So, while Hannity will try to tie Obama to Blago, I think the more probable scenario is that the Obama administration helped Blago hang himself. There is nothing illegal, but lets see if Blago claims entrapment.
http://msnbcmedia.msn.com/i/msnbc/sections/news/081209_FINAL_complaint_cover_and_aff.pdf