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He's the one person in position to determine the ultimate outcome of this race.
He, more than anyone else, needs to win Iowa to be president.
If he doesn't win Iowa, his chances are doomed. He won't have enough money to go much further if he doesn't place first, or a close, impressive second.
Providing he doesn't do that, then he could arguable be in a better ultimate position for himself than either Clinton or Obama to secure a spot in the White House come '09.
The thinking is this...
Edwards fails to win Iowa, comes in third behind Clinton and Obama, get something like 18% of the vote there.
That 18% will be much greater than the distance between Clinton and Obama.
It's at this point Edwards has a choice to make.
He can continue to run, gambling on some miracle to take place in New Hampshire and South Carolina.
Or he can cut a deal.
And there's two possible deals he could make, depending on who he cuts them with.
If he wants to deal with Clinton, he could say to her "look, if you make me your vice president, I'll drop out, endorse you, and have my supporters go towards you before South Carolina, which will be a more vulnerable state for you than New Hampshire when going up against Obama."
Or, and this is the more likely scenario -- if he wanted to deal with Obama, he could say to him "hey, I hate Hillary as much as you do. This is what I'll do for you, I'll drop out, throw my support behind you, and you can have my 18% (or whatever the figure is) and use it against her. In return, I want to be Attorney General.
Either way, he'd tip the balance in one favor or the other.
Now, why would he ask for a VP slot with one candidate and an AG slot with another? Because there's no way he'd be Obama's VP. Neither one has foreign policy experience, and Edwards doesn't balance Obama well.
Plus, it would be a move Clinton would only make if she were truly threatened by Obama, if he runs one or two points behind her in both Iowa or New Hampshire - or wins one or both. She'd see his momentum building and would need a desperation move at that point. He'd have more leverage against her than he would Obama, so he could ask for more than just an AG spot.
And between Clinton and Obama, it's more likely Hillary would pull off a move like that if it were close, because this is her one and only opportunity to be president. If she can't get through the primary this time, it's not likely voters will think much differently of her four or eight years from now.
But Obama can be patient. He's got time on his side. He's more likely to turn up in 2012 or 2016 then she is. The sense of desperation won't envelope him like it will the Clinton team.
So even if he doesn't win the nomination, Edwards can still have the most influence on this election year by being king-maker (or queen-maker).
My money is on king-maker.
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