Illinois Gov. Rod Blagojevich and his chief of staff John Harris were reportedly arrested this morning under suspicion of using Sen. Barack Obama’s open seat for personal and financial gain. The FBI was granted approval to secretly record the Democratic governor after the Nov. 4 election as part of an ongoing corruption investigation.

According to a 76-page affidavit, Blagojevich asked for the following in exchange for the Senate appointment: “A substantial salary for himself at a either a non-profit foundation or an organization affiliated with labor unions. Placing his wife on paid corporate boards where he speculated she might garner as much as $150,000 a year. Promises of campaign funds — including cash up front. A cabinet post or ambassadorship for himself.”

According to reports, Blagojevich was recorded as saying, “if . . . they’re not going to offer anything of any value, then I might just take it.” Later that day, speaking to Advisor A, Blagojevich said: “I’m going to keep this Senate option for me a real possibility, you know, and therefore I can drive a hard bargain.” He added later that the seat “is a [expletive] valuable thing, you just don’t give it away for nothing.”

The following is a portion of a 12-page press release by U.S. Attorney Patrick Fitzgerald (PDF):

CHICAGO – Illinois Gov. Rod R. Blagojevich and his Chief of Staff, John Harris, were arrested today by FBI agents on federal corruption charges alleging that they and others are engaging in ongoing criminal activity: conspiring to obtain personal financial benefits for Blagojevich by leveraging his sole authority to appoint a United States Senator; threatening to withhold substantial state assistance to the Tribune Company in connection with the sale of Wrigley Field to induce the firing of Chicago Tribune editorial board members sharply critical of Blagojevich; and to obtain campaign contributions in exchange for official actions – both historically and now in a push before a new state ethics law takes effect January 1, 2009.

Blagojevich, 51, and Harris, 46, both of Chicago, were each charged with conspiracy to commit mail and wire fraud and solicitation of bribery. They were charged in a two-count criminal complaint that was sworn out on Sunday and unsealed today following their arrests, which occurred without incident, announced Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, and Robert D. Grant, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation. Bothmen were expected to appear later today before U.S. Magistrate Judge Nan Nolan in U.S. District Court in Chicago.