If they wait that long he will already be serving his sentence and bail will not be an issue.
What’s your point? Yes, he’ll likely be spending some time in jail. But I suspect he will not have a criminal record when he gets out, nor will he be financially behind where he would have been if he’d never been put in or fined. Sometimes friends in high places can’t make things perfect. And I really doubt that Libby wants Bush to give him a pre-election pardon, potentially at great cost to the Republican Party’s election results. Unlike the Plame-Wilson beast, most of the people in the Bush administration actually do have some things they put a higher value on than their own personal pleasure, status, and wealth.