The Spectator reports that after failing to get the GOP presidential nomination Mitt Romney will invest at least $1 million in a long-term project — to buy the hearts of conservatives.

Mitt is creating a conservative think tank that will not only give him street cred with a skeptical Republican right wing, but will keep his campaign cadre employed until he can make another presidential run in 2012.

According to former Romney advisers, the former candidate has budgeted more than a million dollars of his own money, and would tap a number of his financial supporters for more, to set up a new foundation -- perhaps in Michigan -- that would promote conservative policy ideas.

Still, the Spectator isn't optimistic about Mitt's chances of zooming conservatives, particularly the religious right.

Romney's conservative policy ideas largely paled in comparison to most of the other candidates in the race, including some of John McCain's, Fred Thompson's, and even Mike Huckabee's. Romney's tax plan was not as aggressive as Thompson's or Huckabee's, and his immigration reform plan was closer to the moderate plan put forward by McCain.

As part of this conservative image-building campaign — does Mitt ever sleep? — a former adviser says it was Romney who sought the recent radio gig filling in for ancient heartland heartthrob Paul Harvey. (Mitt even looks like a younger version of Paul, above.)

Governor Romney saw that that was how Fred Thompson got his jumpstart in the campaign. He's not above borrowing a good idea if it will help him.