Richardson thought probe would end in December

New Mexico Gov. Bill Richardson (D), who withdrew his
nomination to be secretary of Commerce, said he thought an investigation of a
state contract would have been concluded last month. 

Richardson said Monday that, when the probe of the
contract given to a political donor was not wrapped up then, he decided it was
best for President-elect Obama’s incoming administration and the floundering
economy for him to withdraw instead of asking for a delayed confirmation.

{mosads}The governor, talking to reporters at a press conference
in New Mexico, expressed that it was painful to withdraw his name from
consideration for the Cabinet post. He added that he “underestimated” how long
the grand jury investigation would last.

Richardson informed Obama that he was withdrawing because
the investigation, which is looking into whether CDR Financial Products was
awarded a lucrative state contract because of political donations to
Richardson, was still ongoing.

“I had hoped that the CDR investigation would have
concluded in December with a clean bill of health for my administration,”
Richardson said. “Since the investigation was not finished in December and, as
long as the CDR investigation is ongoing, I made the decision to withdraw as
the president-elect’s nominee for Commerce secretary rather than ask for a
delay in my appointment.”

Richardson declined to comment on the investigation at
Monday’s news conference, but on Sunday he denied any wrongdoing.

Obama said in a statement Sunday that he accepted
Richardson’s withdrawal with “deep regret.”