MSNBC did a piece on the Biden/Clinton swap talk (see it here ).

Many people thought this was a good idea back in 2008, but it wasn't. It was a very bad idea. Imagine a new President, and all the difficult choices existing in Obama's first year, now consider what it would have been like with Bill doing the news shows - the favorite question for reporter would have centered around how he would have handled the challenge. Even though Bill is not part of the administration, he would become the most accessible and juiciest source. It would have produced an "all Clinton" news cycle and been extremely frustrating for a new President seeking to define his legacy.

At this point though, there is a very different problem. Obama is losing the "working class" (blue collar, white) voters, the ones Hillary warned him in the Primary he would not be able to maintain a connection with. Is this about race? Not likely. It's about elitism. The view that Barak Obama encapsulates the traditional Harvard liberal, which is the anethema to the working class Dem. His comments during the Primary race didn't do too much to assuage this feeling.

Swapping Clinton for Biden would bring those voters on board for 2012. It would also set Hillary up nicely for a 2016 race. It would also be less threatening as Obama would have a term of accomplishments under his belt, so Bill becomes less of an overshadowing force going into a second term.

Before you assume this is a done deal, you have to keep in mind there most be an actual threat to induce Obama to make this change. At this point, I don't see any. If you think Sarah Palin is a credible threat, you've lost your mind. It is far more likely that Ted Stevens will launch a successful campaign from beyond the grave than Sarah Palin ever be a real threat to Obama.

Until Primary season is in full swing we won't know how likely this idea is. If no one of substance gets nominated on the right then I think Obama will stick with Biden.