Richardson Withdraws Commerce Sec Nomination

New Mexico Gov. Bill Richardson, tapped in December by President-elect Barack Obama to serve as secretary of Commerce, has withdrawn his name for the position, citing a pending investigation into a company that has done business with his state.

"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 said Sunday in a report by NBC News' Andrea Mitchell. "But I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process."

My guess is that this is much ado about nothing. I can't believe that Bill Richardson was involved in a possible play for pay scandal, but it does show the type of person he is by withdrawing his name with the prospect of the investigation taking months.