I thought I was watching Chicago, but instead I was tuned in to MSNBC. It’s a story that journalists are calling “jaw-dropping,” “shocking,” and “appalling.”

Illinois Governor Rod R. Blagojevic was arrested this morning by federal authorities on charges of corruption. He has allegedly been attempting to sell President-elect Barack Obama’s vacated US Senate seat to the highest bidder. The US Attorney’s office in Illinois released an affadavit this morning claiming that Gov. Blagojevic was overheard on wiretaps attempting to “sell or trade” the former senator’s seat in Congress for “personal” benefits. Both he and his Chief of Staff, John Harris, were indicted this morning and are expected back in federal court later this afternoon.

In addition to allegedly trying to sell Obama’s former Senate seat, Blagojevic is accused of witholding state aid from The Tribune Company (which filed for bankruptcy yesterday), until the Chicago Tribune agreed to fire staff members who had been critical of him in the past. Sha-dy.

Federal prosecutor Patrick Fitzgerald announced at a press conference that Gov. Blagojevic’s actions have begotten “a new low” in politics, and “[His] conduct would make Lincoln roll over in his grave.” Yeowza!

The allegations come on the heels of the aforementioned bankruptcy of one of the premeire media companies in the United States. As an ironic twist of fate, running against the famously corrupt image of Illinois politics was a prominent platform issue of Blagojevic when he was running for governor. If convicted, Blagojevic would be the second Illinois governor in two years (and fourth all-time) to be imprisoned for a crime, after former Governor George Ryan was sent to jail in 2006 for racketeering. In the meantime, several prominent Illinois politicians and authorities are calling for a special election to fill Obama’s Senate seat, so as to minimize the corruption of the position.

Bankruptcy, corruption, press, courts, Chicago, and all that jazz.