Richardson Out Amid Scandal

Uh huh.

New Mexico Gov. Bill Richardson is withdrawing his nomination to be commerce secretary, he and President-elect Barack Obama said in statements Sunday.

Richardson cited the distraction of a federal investigation into his ties to a California company that won municipal bond business in New Mexico after contributing money to various Richardson causes.

Richardson’s statement explained that he asked Obama “not to move forward” with his nomination now.

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