Richardson Withdraws Nomination to Cabinet Post

Bill Richardson, Governor of New Mexico and recent candidate for the Presidency, withdrew his nomination for the post of commerce secretary in President-elect Obama's new cabinet on Sunday. He cited a grand jury probe into some of his business dealings. Richardson said in a joint statement with the President-elect that "I and my administration have acted properly in all matters and that this investigation will bear out that fact", but went on to say that accepting the post would cause delays in his confirmation process that would hinder the new administration. The President-elect accepted the withdrawal "with deep regret". He called Gov. Richardson's decision "a measure of his willingness to put the nation first that he has removed himself as a candidate for the Cabinet in order to avoid any delay in filling this important economic post at this critical time."

Potential repacements for Gov. Richardson have not yet been named.

Breaking (as of 4:55, from the New York Times):
President-elect Barack Obama has chosen Louis Panetta to be the new head of the Central Intelligence Agency. Mr. Panetta served nine terms in the House of Representatives for the California 16th and later 17th congressional districts. He served as President Bill Clinton's Chief of Staff and is well known for his managerial skills. He has attracted some criticism, however, for having less experience with intelligence or counterterrorism than other contenders for the post. He is a replacement for the President-elect's initial pick, John Brennan, who pulled out of consideration because of his association with the CIA's controversial interrogation practices. He will replace the current head of the CIA, Michael Hayden.

Sources: New York Times, Associated Press