Decoder Buzz Jim Webb all but launches presidential bid. Does he have a chance? (+video)

The former Secretary of the Navy and Virginia senator launched a new campaign website Wednesday. Can Jim Webb give Hillary Rodham Clinton a run for her money?

By , Staff writer

Steve Helber/AP/File

Former Secretary of the Navy and Virginia Sen. Jim Webb (D) made it official on Wednesday night: He’s setting up a presidential campaign exploratory committee. That makes him the first potential candidate of either party to take this important procedural step.