Just despicable. What else can you say? This is an absolutely radioactive, Hurricane-force event that will have implications in Illinois for years to come.
We saw in LA-2 this weekend about what can happen to Democrats in instances of extreme corruption, even in very blue regions of the country. This case is a little different, in that the person who is responsible for the corruption isn't running for re-election (although Blagojevich hasn't yet declared himself out of the running for 2010!). On the other hand, the scope and the sheer drama of the corruption -- if the charges are validated -- is of greater magnitude than we saw in the Jefferson case, and odds are that at least one or two prominent Illinois politicians will get caught having done something less than above-board.
The Republicans are extremely disorganized in Illinois, but both the governor's seat and Obama's senate seat now need to be considered viable pickup opportunities for them in 2010. The Republican with the strongest statewide brand name is former senator Peter Fitzgerald, who retired from the Senate in 2004. With that said, the Democrats have several rising stars of their own, such as Alexi Giannoulias, Jan Schakowsky, Lisa Madigan, and Luis Guiterrez, all of whom have pretty clean reputations.
More:
http://www.fivethirtyeight.com/2008/12/blagojevich-fallout.html