Politics | Bill Richardson Amid Probe, Richardson Drops Bid for Commerce By Newser Editors and Wire Services Posted Jan 4, 2009 1:06 PM CST Copied In this file photo from Wednesday, Dec. 3, 2008, President-elect Barack Obama listens as Commerce Secretary designate New Mexico Gov. Bill Richardson, speaks during a news conference in Chicago. (AP Photo/Charles Dharapak, File) Bill Richardson has withdrawn his nomination to be commerce secretary amid a grand jury investigation into a lucrative state contract awarded to a firm that backed the New Mexico governor's political activities. Barack Obama's transition office said today that Obama has accepted Richardson's withdrawal. A person familiar with the proceedings has told the AP that the grand jury is looking into possible "pay-to-play" dealings between California-based CDR Financial Products and someone in a position to push the contract through with the state of New Mexico. Read These Next 11 people hurt in a "brutal act of violence" in Michigan. A parent's nightmare, in a white cardboard box. We knew Letterman would pipe up about Colbert eventually. The humans survived this flight; the deer on the ground didn't. Get breaking news in your inbox. What you need to know, as soon as we know it. Sign up Report an error