Hillary Clinton’s presidential campaign loss may not be a total wash. Multiple reports broke last night that President-elect Barack Obama may pick the New York Senator as his Secretary of State.

The talks actually began last week, according to the Associated Press, but the talk died down after party activists questioned whether Clinton would be best-suited for the nation’s top diplomatic slot.

Chatter picked up again last night, however, with The Washington Post reporting that Obama’s transition team had reservations about some of the usual suspects, like Senator John Kerry and New Mexico Governor Bill Richardson, who have both expressed interest in the job.

Rumors only intensified as CNN passed on word that two sources close to Obama’s transition team said that Mrs. Clinton’s name had been tossed around, but a Clinton tipster told the news network Wednesday that she had not been contacted for any Cabinet job. The Senator would not, of course, dismiss an offer if it were made, they said. Clinton’s office remained mum on the matter, and sent inquisitive callers to Obama’s team, who also refused to comment. Another anonymous source would neither confirm nor deny the murmurs, says Politico.

In a twist of fate, Clinton happened to be in Obama’s home base of Chicago yesterday, but aides insisted her trip was for personal business. While neither Clinton nor Obama would remark, New Jersey Governor Jon Corzine gave Clinton a big thumbs up, telling MSNBC this morning: "Hillary Clinton, I think, will make a magnificent secretary of state. I think she’d be a great partner to Barack Obama. Maybe she’ll even make a phone call at 3 a.m."

That remark, of course, refers to Clinton’s oft-cited campaign commercial asking voters which candidate they would want fielding a crisis in the early morning hours. Could it be that Obama thinks she’s fit for such a phone call? What do you think, readers? Would Clinton be the right choice?