Bill Richardson Withdraws as Commerce Secretary

From MSNBC...

New Mexico Gov. Bill Richardson, tapped in December by President-elect Barack Obama to serve as secretary of Commerce, has withdrawn his name for the position, citing a pending investigation into a company that has done business with his state.

"Let me say unequivocally that I and my Administration have acted properly in all matters and that this investigation will bear out that fact," he said Sunday in a report by NBC News. "But I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process."

He said he plans to continue in his role as governor.

This is too bad. I thought Richardson was a nice guy when I met him campaigning prior to the Iowa caucuses. The Commerce Secretary will be a very important position with the economy doing so badly and Richardson had a lot of experience to bring to the table.