Gov. Bill Richardson Pulls Out as Obama’s Money Man

Former presidential candidate New Mexico Governor Bill Richardson announced that he is withdrawing his nomination to be the next commerce secretary in the Obama Cabinet because of an ongoing investigation into some of his political donors, according to the Associated Press.

In a statement issued by the Obama transition team, Richardson said: "It is also because of that sense of urgency about the work of the Commerce Department that I have asked the president-elect not to move forward with my nomination at this time. I do so with great sorrow. But a pending investigation of a company that has done business with New Mexico state government promises to extend for several weeks or, perhaps, even months."


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