NM Governor Bill Richardson Drops Bid to Be Obama’s Commerce Secretary

Obama Drama: The Chosen One’s choice for commerce secretary withdraws …

Here is an eye opener and some real Obama Drama, there is trouble in Obamalot … New Mexico Governor Bill Richardson has withdrawn his name as President-elect Barack Obama’s nominee for commerce secretary. Michelle Malkin appropriately puts it, “Adios! Bill Richardson.” The reason given by Richardson cited a pending investigation into a company that has done business with his state. Blagogate is beginning to look common place for Democratic Governors these days.

A federal grand jury is investigating how a California company that contributed to Richardson’s political activities won a lucrative New Mexico state contract.

A federal grand jury is investigating whether a California firm, CDR Financial Products, won a lucrative contract from the state of New Mexico after it contributed at least $110,000 to three political committees formed by Richardson

Adios Amigos … Grand Jury Investigation halts Richardson Commerce Secretary Bid

NBC news quoted a statement by Richardson as saying he withdrew due to a pending investigation into a company that has done business with his state.

Richardson said on the NBC news website that he had done nothing wrong but he said the ongoing investigation would have caused a long delay in the confirmation process.

As Hot Air has stated, Barack Obama’s transition to President has been shakey. It did not take long for Obama’s first brush with scandal in his Administration. As a matter of fact it happened even before his oath of office. Not a good omen.

NBC has reported that Richardson withdrew his name to be commerce secretary in the face of a federal grand jury investigating whether Richardson exchanged contracts for campaign contributions. Say it isn’t so. Richardson is denying ant wrong doing; however, what would one expect him to say, yes I did it? Obviously the Obama transition staff is not so confident as a resignation most likely had much to do with not wanting any of the grand jury publicity to stick to the Chosen One and his choice of Richardson as commerce secretary.

NBC News on Sunday reported that Richardson, who is the governor of New Mexico, denies any wrongdoing but the investigation won’t be finished before he has to go to Senate confirmation hearings.

“Let me say unequivocally that I and my administration have acted properly in all matters and that this investigation will bear out that fact,” Richardson told NBC News. “But I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process.”

Richardson’s full statement and Obama’s acceptance of his resignation can be read HERE.

The Alan Colmes Liberaland blog calls it a shame and Richardson a fine public servant.  He’ll continue to serve as governor of New Mexico. Um Alan, not if the allegations against Richardson are found to be true. He might find himself in the same fate as Illinois governor Rod Blagojevich.

UPDATE I: Pay to Play Grand Jury Investigation Sinks high-profile Latino named to Obama’s Cabinet

The probe in New Mexico involves questions about a California firm, CDR Financial Products, and its president, David Rubin. The grand jury in Albuquerque is looking into whether the firm was given a contract with the New Mexico Finance Authority because of pressure from Richardson.

CDR made $1.48 million advising the authority on interest-rate swaps and refinancing of funds related to $1.6 billion in transportation bonds issued by the agency, state officials confirmed.

The firm and Rubin together gave $100,000 to two Richardson organizations shortly before winning those contracts.

The probe into the donations was said to be “highly active” around the middle of last month, according to two sources familiar with the investigation, which is being conducted by the FBI and federal prosecutors.

So, that’s the second person who didn’t make it through the process chosen by Obama.