Resign or Be Impeached?

This is not the question.

If Blago conducted himself in an impeachable manner, then impeachment proceedings should commence. Now! What are our elected reps waiting for?

This might hasten his resignation. The threat of impeachment will not faze him. Action is what will get his attention.

And if he resigns? Should that halt impeachment? What are the consequences of impeachment and then a finding of guilt, should such a finding result? Only loss of office?

Or is there something more severe?

Elected Representatives, stop posturing and blowing hot air. Act!