In one of the most shocking developments this year, Time Magazine has named Barack Obama as Person of the Year 2008. Sarah Palin was also considered, and runner up for the honor. Read more, see photos and a video below.

Others named as runner up for Time man of the year were Treasury Secretary Henry Paulson, French President Nicolas Sarkozy, and Chinese director Zhang Yimou. Russian President Vladimir Putin won the award last year.

Adolf Hitler also won the award a few times and so did Ayatollah Khomeini in 1980. So the award isn’t always positive, rather displays the amount of impact a person has on the world.

In the most comical part of this story, apparently Caroline Kennedy has expressed interest in being named for the honor in 2009. She has let the editors of Time Magazine know her interest to. I guess she is really under the assumption that she will get the Hillary Clinton Senate spot.

If anything, this shows some determined ambition. She really wants to make a name for herself. It also shows a rather arrogant and presumptuous attitude that is one of the more unappetizing attributes of politicians. As a Democrat, isn’t she supposed to represent the regular “Joe?�? Sounds like she represents more of that northeastern elite political dynasty.

Barack Obama Person of the Year Video