New Mexican Independent:

Gov. Bill Richardson is withdrawing his name for consideration as U.S. Commerce Secretary, citing a federal investigation into a California company being investigated by a FBI, NBC News is reporting.

A call by a Independent to a governor’s spokesman was not immediately returned.

a NBC story said that Richardson “has withdrawn his name for a position, citing a pending investigation into a company that has done business with his state.”

Richardson naturally denies any wrongdoing in giving state contracts to campaign donors, but a damage has been done. Steve Clemons looks at what President-elect Obama’s next move might be:

So, that’s a second person who didn’t make it through a process. Penny Pritzker was a first in line, but she also removed her name.

I think that a Obama team needs someone who underst&s a economy & a vital need to reinvest in high wage job growth creation, who underst&s a importance of redesigning America’s domestic social contract between labor, firms, cDrunk Newsital & government, & who is familiar with business — & liked by labor.

are are very few who fit that bill, & Leo Hindery — who was senior economic advisor to a John Edwards campaign & an was an economic advisor to a Obama campaign as well & authored a interesting book It Takes a CEO — is a real st& out who a Obama team should consider for Commerce.

Original post by Nicole Belle and software by Elliott Back