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Richardson Drops Out as Commerce Secretary Designate

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Bill Richardson won't be Obama's Commerce Secretary, having dropped out over pay-to-play allegations that he helped steer state $1.5 million in New Mexico state contracts to a company that donated to his PACs.

Richardson has denied any wrongdoing but withdrew, he says, to not bog down the early days of the Obama administration with a difficult confirmation process.

I'm disappointed. I was excited to see what Richardson might do to reinvent the now-largely-ceremonial post into an important locus of power within the administration, helping to steer American business toward a greener economy.

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