* We don’t know yet who asked for this meeting, but this is a huge blow to Treasurer Alexi Giannoulias, whom Barack Obama backed in the last election…

Illinois Attorney General Lisa Madigan has met with President Barack Obama and his senior political aides to talk about running for the U.S. Senate seat he once held.

Ms. Madigan’s spokeswoman says the meeting occurred in Washington at the White House late last week, with the Senate race the subject.

Ms. Madigan reportedly has not made up her mind, but the meeting came after weeks in which White House operatives reached out to Ms. Madigan and urged her to run for the seat now held by Roland Burris, and after Ms. Madigan said she would agree to think about it.

In the meeting besides Mr. Obama were senior advisor Valerie Jarrett and presidential Chief of Staff Rahm Emanuel. Ms. Madigan also talked with David Axelrod, who ran Mr. Obama’s presidential campaign.

More…

So, who called the White House meeting? “I didn’t ask that question,” Ziegler said.

Hmmm. It’s a safe bet that Madigan is rethinking a bid for the governor’s job. “Well, she hasn’t ruled out a Senate bid,” Ziegler said.

And this Giannoulias press release is kinda weird…

Statement from State Treasurer Alexi Giannoulias regarding U.S. Senate race:

“Voters in Illinois are facing the most troubling economic times in decades and they want leaders who will solve problems and fight hard every day against the political insiders who have failed us. When Barack Obama ran for this seat in 2004, he was not the choice of the insiders. He became the choice of the people because of the strength of his ideas and his ideals.

“Illinois has been ill-served by state party leaders who think they know better than voters. Now more than ever, anyone who seeks this seat must convince voters they have the ideas that will get our economy on its feet and put our people back to work, not just prove that they have the political clout to demand a clear field and win appointment.”

Madigan wants a presidential endorsement and a clear field. As Giannoulias’ press release makes clear, that second part doesn’t look likely…

The Chicago Sun-Times’ Lynn Sweet reports that Illinois Attorney General Lisa Madigan is demanding an endorsement from President Obama and a clear Democratic primary field as the two conditions for her to run for the Senate.

The White House looks willing to play ball, in light of breaking news that President Obama met with Madigan last week to discuss a potential Senate candidacy.

But the second condition looks very difficult to achieve, with state Treasurer Alexi Giannoulias already in the race and raising big bucks for his exploratory committee with plans to make a formal announcement next month. And there’s no love lost between the Madigan and Giannoulias camps, making any kind of backroom deal between the two highly unlikely.

Several sources close to the Giannoulias camp said there is “no way” the state Treasurer would bow out of the race, and that he’s in it to win it. That would mean that if Madigan wanted to pursue a Senate race, she’d have to face a tough, expensive primary — without the benefit of the nearly $5 million in her state campaign account.

More…

At a commencement speech in Chicago Sunday, Sun-Times Political Reporter Abdon M. Pallasch asked Obama Axelrod Sunday about spin put out by some Giannoulias critics that the White House wanted Madigan as the nominee because if Obama’s friend Giannoulias was the nominee, Obama’s and Giannoulias’ old friend, convicted influence peddler Tony Rezko, would become a campaign issue that caused spillover bad P.R. for Obama.

“The president has a lot of respect and affection for Alexi, for Lisa, but ultimately the party and voters here are going to have to decide who will be the strongest possible candidate right now,” Axelrod said. “Our interest is in making sure the seat remains in Democratic hands. It’s not up to the president to decide who the candidate should be, But that’s the standard everyone should apply: Who would be the strongest candidate?”

Pallasch asked Axelrod: “Are you guys taking a ‘hands off’ approach or trying to recruit the best candidate?”

Axelrod responded: “We’re talking to whoever wants to talk to us.”

Thoughts?