Bill Richardson Will No Longer Be Commerce Secretary

Looks like our governor, Bill Richardson, has withdrawn his name as Obama’s nominee for Commerce Secretary. It all has to do with the ongoing federal investigation into how some of his political donors won a lucrative state contract.

In 2004  CDR Financial Programs of Beverley Hills, CA got hired by the New Mexico Finance Authority to work on the $1.6 billion bond issue used to fund highway projects and the Rail Runner commuter train. This was all part of  GRIP or Governor’s Reinvestment Partnership, a Bond Program to pay for road improvements and the Railrunner Commuter Train. CDR’s owner, David Rubin, then went on to make two contributions to political organizations close to Gov. Bill Richardson totaling $85,000. One of the organizations being looked at by the feds is Si Se Puede!, a PAC formed in 2004 to pay the bills for Richardson and his staff to attend the Democratic National Convention in Boston. Richardson was convention chairman. The PAC raised $191,000 which $130,000 came from financial companies involved in the GRIP bonds.

Looks like the gov will be back and the Lt. Governor, Diane Denish, who had already begun gathering together a transition team will be back at her old office for the next 2 years. This is too bad because she is a decent person and would have made a good governor.