I love it...not yet inaugerated and already a 'second' investigation related to the Obama presidency.

One can only hope our president-elect remains 'above the fray'.

http://news.yahoo.com/s/ap/20090104/ap_on_el_pr/richardson

Let's also hope Obama is not associated with the apparent 'forced' appointment of the uttery unexperienced and Caroline Kennedy Schlossberg to fill Hillary's NY senate seat.

Although...the potential upside is this can easily be thrown in the face of any Democrat to referred to Gov. Palin as 'inexperienced'.

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WASHINGTON – New Mexico Gov. Bill Richardson on Sunday announced that he was withdrawing his nomination to be President-elect Barack Obama's commerce secretary amid a grand jury investigation into how some of his political donors won a lucrative state contract.

Richardson's withdrawal was the 1st disruption of Obama's Cabinet process and the second "pay-to-play" investigation that has touched Obama's transition to the presidency. The president-elect has remained above the fray in both the case of arrested Illinois Gov. Rod Blagojevich and the New Mexico case.

A federal grand jury is investigating how a CA company that contributed to Richardson's political activities won a New Mexico transportation contract worth more than $1m. Richardson said in a stmt issued by the Obama office that the investigation could take weeks or months but expressed confidence it will show he and his administration acted properly.

"I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process," Richardson said. "Given the gravity of the economic situation the nation is facing, I could not in good conscience ask the president-elect and his administration to delay...the important work that needs to be done."

Richardson said he will remain as governor and told Obama, "I am eager to serve in the future in any way he deems useful."

The announcement came ahead of Obama's Monday meetings with congressional leaders on a massive economic recovery bill he wants lawmakers to pass quickly.

Obama said he has accepted Richardson's withdrawal, first reported by NBC News, "with deep regret."

"Governor Richardson is an outstanding public servant and would have brought to the job of Commerce Secretary and our economic team great insights accumulated through an extraordinary career in federal and state office," Obama said. "It is a measure of his willingness to put the nation first that he has removed himself as a candidate for the Cabinet to avoid any delay in filling this important economic post at this critical time. Although we must move quickly to fill the void left by Governor Richardson's decision, I look forward to his future service to our country and in my administration."

A person familiar with the proceedings has told The AP that the grand jury is looking into possible "pay-to-play" dealings between CDR Financial Products and someone in a position to push the contract through with the state of New Mexico.

State documents show CDR was paid a total of $1.48 million in 2004 & 2005 for its work on a transportation program.

Richardson ran against Obama in the Dem presidential primary, but withdrew after a poor showing in the Iowa caucuses and New Hampshire primary.

He is one of the most prominent Hispanics in the Dem Party, having served in Congress and as President Clinton's ambassador to the United Nations and energy secretary. As gov, he's kept up an international profile with a specialty in dealing with rouge nations. Obama also considered him to be secretary of state.

CDR and its CEO, David Rubin, have contributed at least $110,000 to three political committees formed by Richardson, according to an AP review of campaign finance records.

The largest donation, $75,000, was made by CDR in June 2004 — a couple of months after the transportation financing arrangement won state approval — to a political committee that Richardson established before the Democratic National Convention that year.

In the Illinois case, Blagojevich is accused of trying to sell the Senate seat that Obama gave up to become president. Obama and two of his top aides have been interviewed by the U.S. attorney's office pursuing the case but have denied any knowledge of such a scheme and have not been accused by prosecutors of any wrongdoing.