The hinting around sure is getting heavy-handed. I'm not sure how much sense he's really making, though. "I am not happy with the Republican Party today," Hagel said. "It's been hijacked by a group of single-minded almost isolationists, insulationists, power-projectors."

This doesn't really strike me as what you'd call a coherent critique of the reigning orthodoxy, though it certainly does seem to me like Hagel would be better than your average Republican on these issues. On the other hand, it would be extremely hard to reconcile Chuck Hagel's longstanding positions on the issues with Bloomberg's existing political profile and it doesn't seem like either of these guys is especially inclined to run on the bottom of a ticket. Probably both of them are just wasting time and enjoying the attention speculation brings.