With the Democratic race all but sewn up, if Barack Obama hasn’t begun the search for a Vice President yet, the process will be underway soon.

In fact, a Democratic activist says that Jim Johnson, a former Fannie Mae CEO who helped screen prospective VPs in both 1984 and 2004, has accepted Obama’s request to begin the selection process for the No. 2 spot.

We have no way of knowing for sure who’s in the running, but we have some ideas. Leave us a comment and let us know what you think of these choices for Vice President - or if we’ve left off someone you think is worthy.

Who will - or should - Barack Obama choose as his Vice President?

New York Sen. Hillary Rodham Clinton

Pros: Tenacious. Seen it all, done it all. Talk of “dream ticket” still resonates with many voters who have invested heavily in this contentious campaign.
Cons: As divisive as they get, plus there’s some hostility from Obama’s camp. When you suggest that your opponent is unprepared to lead, that’s to be expected. Also, Michelle Obama is not a fan of the idea.

New Mexico Gov. Bill Richardson

Pros: Has major Cabinet-level and national security experience. Governor of a critical state. Member of key demographic group — Hispanics. His huge endorsement during Rev. Wright mess gave Obama a boost.
Cons: Bill Richardson can be an uneven campaigner, doubts about his ‘00 and ‘04 V.P. vetting linger - and putting an African-American and Mexican-American on the ticket at the same time might (sadly) give pause to some.

Pennsylvania Gov. Ed Rendell

Pros: This could be the one. A popular figure in a key state, he helped deliver Pennsylvania for Hillary Clinton. A plausible president, and a smart, tough and respected party Democrat not tied to any particular constituency. Would embrace Obama loyally and undoubtedly help the ticket.
Cons: Little national security experience.

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Having ended his own presidential run before it began, New York Mayor Michael Bloomberg is now a coveted ally - for any presidential candidate.

Thursday it will be Sen. John McCain at a business roundtable that the Republican presidential hopeful is convening in Brooklyn.

Bloomberg will introduce him with a few kind words, which in some ways is just returning an old favor. In 2001, John McCain was one of the few who endorsed Bloomberg for mayor. But it’s all part of a larger casting call.

Two weeks ago, Barack Obama praised Bloomberg at Cooper Union as the mayor who “shows us what can be achieved when we bring people together.”

CENTRIST OF ATTENTION: Michael Bloomberg would certainly be a key supporter for either Democrat Barack Obama or Republican John McCain.

“He’s like E.F. Hutton now - when Michael Bloomberg talks, people listen,” said Peter Fenn, a veteran Democratic consultant based in Washington D.C.

Many big-city mayors and governors get wooed, but there are differences when it comes to Bloomberg, a Democrat-turned-Republican-turned-independent.

There’s his appeal to voters on both sides of the political spectrum - he may have even run himself under different circumstances, and may merit consideration as a V.P. candidate (though we’re hoping for Condoleezza Rice) - and vast resources.

As a former businessman with deep connections on Wall Street, Bloomberg could also be seen as “a business community stamp of approval,” some beleive.

Aides maintain that Michael Bloomberg remains open to all candidates and will likely back the presidential hopeful who is least afraid to tackle big problems, even if it means telling voters “we can’t afford everything.”

With a Republican who appeals to moderates and Democrats, and a Democratic frontrunner who has united so many different groups of voters behind him, the window of opportunity for a pragmatic, independent challenger closed.

New York City Mayor Michael Bloomberg, who long toyed with a run for the White House as an independent, says he will not seek the presidency.

“I listened carefully to those who encouraged me to run, but I am not - and will not be - a candidate for president,” Bloomberg, 66 and officially an independent after bolting the GOP, wrote to the New York Times.

The billionaire and popular mayor certainly could have financed a run and gained traction quickly - against certain kinds of opponents.

But having to contend with John McCain and Barack Obama - two very popular candidates among independents, first-time voters and people in the middle of the political spectrum - quashed a Bloomberg bid before it began.

Michael Bloomberg will not seek the White House as an independent.

“The very appeal that Bloomberg would have brought to the race is the very appeal that [John] McCain and [Barack] Obama have for a lot of voters,” Time Magazine editor Mark Halperin said on CNN’s American Morning.

In his editorial, Michael Bloomberg pledged to “steer the national conversation away from partisanship and toward unity; away from ideology and toward common sense; away from sound bites and toward substance.”

Some speculated that Bloomberg, a former Democrat and Republican, would team with Nebraska Sen. Chuck Hagel on an independent ticket.

Unlike that of Ralph Nader, a Bloomberg candidacy would have broad appeal and be taken very seriously, but also unlike Nader, Bloomberg is only interested in running if he can win - and he simply deemed that impossible.

Bloomberg could still play a role in the race if he makes an endorsement. He is good friends with McCain, but he also likes Obama.

The chances of Sen. Chuck Hagel joining New York Mayor Michael Bloomberg on an independent presidential ticket seem to be dimming, with Bloomberg distancing himself from the Nebraska Republican on Monday.

The New York Times reported Saturday about a talk one of its reporters had last week with Hagel, during which Hagel said he had spoken with Bloomberg in the past about possibly being the billionaire’s running mate.

The story contained no quotes, but paraphrased Hagel as saying the rise of John McCain - popular with independents and moderates - as the GOP nominee closes Bloomberg’s window of opportunity to jump in the race.

The Press of Atlantic City concurs that Bloomberg’s chances would improve if the Republicans were to nominate a far-right candidate - a description that does not fit McCain - and the Democrats, one from the far left.

Michael Bloomberg continues to deny a run for the White House.

While Barack Obama is considered farther left than Hillary Clinton - he was judged to have the most liberal voting record in the Senate last year by the National Journal - he is by far a less divisive figure than she.

Asked Monday about Chuck Hagel’s claim that the two discussed running on a ticket, Bloomberg flatly denied that any such conversation took place, and portrayed his relationship with the senator as a distant one.

“I have met him a couple of times … and I never talked to him about being the candidate, and not about who, if I were to run, which I’m not, who you would pick,” Michael Bloomberg said. “We never had that conversation.”

Bloomberg-Hagel speculation began last May when they shared a not very secret dinner in Washington. Then, Hagel said in a television interview that it was time for a third-party candidacy to shake things up.

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