Bill Richardson Withdraws as Obama Commerce Secretary Pick

January 4, 2009

Washington (ChattahBox) — New Mexico Governor Bill Richardson has withdrawn as Barack Obama’s nominee for commerce secretary.

Richardson’s withdrawal came as Obama headed from Chicago to join his family in Washington and begin the final countdown before his inauguration as president on January 20.

After winning plaudits for a smooth transition process thus far, Obama must now rapidly find a replacement to Richardson. Governor Richardson said he was withdrawing his name from contention for the economic job owing to an ongoing federal corruption investigation, into a financial company doing business with his state. The firm reportedly donated heavily to Mr. Richardson’s political action committee.

In a joint statement issued with Obama, Richardson said he had asked the president-elect to pull his name from the Senate confirmation process 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,” he said in the statement, without going into details.

The news comes while the president elect is pushing a mammoth economic rescue bill that Democrats in Congress hope to pass early next month.

The package, worth up to one trillion dollars, is needed to prevent a “much deeper economic downturn” with the United States already in the grip of recession, Obama said Saturday in a weekly radio address.


Comments

One Response to “Bill Richardson Withdraws as Obama Commerce Secretary Pick”

  1. NM Gov. Richardson reportedly off the hook on corruption probe | ChattahBox News Blog on August 27th, 2009 7:17 am

    […] former presidential candidate¬† was nominated by President Obama to be commerce secretary, but was forced to withdraw in January after news broke that a federal grand jury was investigating allegations that a […]

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