From Bloomberg:

Indiana Senator Evan Bayh, on a short list of Democrat Barack Obama's possible running mates, may face questions about potential conflicts of interest from his wife's work on seven corporate boards that paid her more than $837,000 last year.

Susan Bayh, a lawyer, is a director at Indianapolis-based WellPoint Inc., which is part of a medical research partnership awarded a $24.7 million federal grant in May after Evan Bayh and his Indiana colleagues in Congress recommended the group to the National Institutes of Health.

She's on the board of E*Trade Bank, a subsidiary of E*Trade Financial Corp., while her husband sits on the Senate Banking Committee. Susan Bayh is lead director at Emmis Communications Corp., an Indianapolis radio-station operator that published Evan Bayh's 2003 memoir.

``When you're vetting a vice president and his wife is on seven boards, that is a serious question of conflict of interest on a whole variety of issues,'' said James Thurber, director of American University's Center for Congressional and Presidential Studies in Washington.

For the moment, this story is getting play on the left-wing blogs, which are reacting strongly against an Obama-Bayh ticket. But we'll certainly hear more about it if Bayh is chosen.