Bill Richardson Withdrawing as Secretary of Commerce

MSNBC is reporting that New Mexico Governor Bill Richardson will no longer be assuming the position of Secretary of Commerce in the forthcoming Obama administration due to the ongoing investigation into pay to play allegations:

"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."

Full story here.