Richardson backs out of Commerce Secretary nomination.
The Governor of New Mexico, Bill Richardson was nominated by the U.S president elect Barack Obama for the post of commerce secretary. The nation’s most popular Hispanic politician however issued a statement on Sunday denying the offer saying that he was currently engaged with investigations into a company that was conducting business with New Mexico.
Mr. Richardson was keen on retaining his post as Governor of New Mexico and said in defense of his role “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 made the decision after coming to a conclusion “that the ongoing investigation also would have forced an untenable delay in the confirmation process.” The investigation that has commenced may is likely to continue for a couple of months.
President elect Barack Obama was acting in good speed in order to compile the list of cabinet nominees. The refusal of Mr. Richardson has been the biggest setback for the newly elected president since he went on his nominee selecting campaign. Mr. Obama was making his way to Hawaii for a family vacation when he heard the news. He had now choice but to accept Mr. Richardson’s decision but said that he does so with deep regret.
He said in praise of Mr. Richardson “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.”
The news came following the allegations that were leveled against Governor Rod R. Blagojevich of Illinois stating that the individual was seeking a personal profit by nominating a successor to Mr. Obama in the Senate.
Currently the Federal grand jury of New Mexico is involved in investigations regarding the accusations that Mr. Richardson and his administration had granted contracts to a California based contractor who made a heavy contribution to the political action of the governor. These questions were bound to be raised in the Governor’s Senate confirmation hearings.
CDR Financial Products, the California based company managed to secure two consulting contracts that were worth $1.4 million in 2004. Investigations into the issue have been going on since August. Obama’s team vetting process is now being questioned for its thoroughness following the withdrawal of Mr. Richardson.