Whoever was behind this proffered deal "may have violated a federal statute which makes it a crime for a government employee to use his authority 'for the purpose of interfering with, or affecting, the nomination or election of any candidate' for certain offices, including Senate seats.
Will this be Obama's Watergate? Unless Sestak is lying, the answer should be "yes." But, I expect that standards in the post-Bill Clinton era may have changed to the point where nobody would care. And, perhaps more important than the country's tolerance for bad behavior, Obama's friends in Big Media are likely to sweep this under the rug and forget about it for Obama's sake.