http://www.cnn.com/2009/POLITICS/01/04/richardson.withdrawal/index.html (CNN) -- New Mexico Gov. Bill Richardson is withdrawing his nomination to be commerce secretary, he and President-elect Barack Obama said in statements Sunday.
Governor Bill Richardson said a probe focused on him would delay work toward bettering the economy.
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."
"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 for one day the important work that needs to be done."
Richardson, one of the best-known Hispanics in the Democratic Party, served as the energy secretary in the Clinton administration as well as ambassador to the United Nations. He said he will remain governor.
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Obama's statement said that the President-elect accepted the withdrawal 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's statement read. "It is a measure of his willingness to put the nation first that he has removed himself as a candidate for the Cabinet in order 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.
Topic: Obama's Commerce Secretary Bill Richardson Resigns in federal corruption probe (Read 490 times)