Richardson drops bid for Commerce Secretary

Politico:

New Mexico Gov. Bill Richardson announced Sunday afternoon that he is withdrawing as President-elect Barack Obama’s nominee for secretary of Commerce because of unanswered questions about a federal grand jury investigation back home.

"I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process," Richardson said in an e-mailed statement issued by the transition.

Obama accepted the withdrawal with regret, saying in an accompanying statement that he looks forward to Richardson's "future service to our country and in my administration."

Richardson said he had told Obama that "eager to serve in the future in any way he deems useful."

The grand jury has been investigating “pay-to-play” allegations concerning a New Mexico state contract awarded to a California firm that has contributed to three political committees formed by Richardson, The Associated Press reported last month.

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With the Blagojevich controversy and other Democrats in trouble, it is not surprising that Richardson and Obama decided they did not need this fight. My guess is that some Democrat senators told both it was not a good idea to pursue it.

This is a post that is hard to fill for Democrats because of the party's hostility to business despite all the contributions it gets from the largest companies. Maybe Obama can find a Republican who will take it.