Richardson withdraws bid to be commerce secretary

If ever there was good reason to start requesting CAFR (Comprehensive Annual Financial Report) Reports from every level of government activity, this should hit home. TO LEARN MORE ABOUT CAFR'S CLICK HERE.

By NEDRA PICKLER – 7 hours ago

WASHINGTON (AP) — New Mexico Gov. Bill Richardson says he is withdrawing his nomination to be President-elect Barack Obama's commerce secretary amid a grand jury investigation. FULL STORY.

Commerce Pick Richardson Withdraws, Citing N.M. Probe
By Michael D. Shear and Carol D. Leonnig
Washington Post Staff Writers
Monday, January 5, 2009; Page A01

New Mexico Gov. Bill Richardson chosen by President-elect Barack Obama to be commerce secretary, withdrew from consideration yesterday, citing an ongoing federal "pay-to-play" investigation involving one of his political donors as a significant obstacle to his confirmation. FULL STORY.

Richardson Withdraws Name as Commerce Secretary-Designee

Richardson, 61, who competed unsuccessfully for the Democratic presidential nomination, was secretary of energy and U.N. ambassador during Bill Clinton's presidency, and also the first high-profile Latino named to Obama's Cabinet.

But a grand jury in New Mexico is currently looking into charges of "pay-to-play" in the awarding of a state contract to a company that contributed to Richardson.

The importance of the inquiry was apparently dismissed when Richardson was first nominated. But it may have taken on more weight in light of the "pay-to-play" allegations involving Illinois Gov. Rod Blagojevich. FULL STORY.