He's running--sort of. U.S. Sen. Barack Obama (D-IL) is a major step closer to actually running for the presidential nomination of his party. Obama announced in high-tech fashion (on his personal Web site) that he's formed an exploratory committee to run for the top spot on the presidential ticket in 2008. CNBC's John Harwood (money and politics do go together so often) went into the details on today's "Street Signs."
FYI: what exactly is an exploratory committee? Well, it's a committee set up to see if the candidate has a chance or not. Here's a text book definition from writer Ron Elving:The exploratory committee creates a legal shell for a candidate who expects to spend more than $5,000 while contemplating an actual run. Under the rules, exploratory money may be raised without the full disclosure of sources required of true candidates. Only when the candidate drops the exploratory label does the full responsibility of transparency apply.