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India On Media |
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| Politics
News |
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| Obama commerce nominee pulls out |
| New Mexico Governor Bill Richardson has withdrawn as US President-elect Barack Obama's nominee for commerce secretary
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| UNITED STATES OF AMERICA
, 5-January-2009
1:40:35 AM |
| Mr Richardson's decision was linked to a pending investigation into a company which has done business with his state.
In a joint statement, Mr Obama said he had accepted Mr Richardson's decision to withdraw "with deep regret".
Mr Richardson denied any wrongdoing but said that the inquiry could take months and he could not allow the commerce department's vital work to be delayed.
A federal grand jury in Albuquerque is investigating how a California company that contributed to Mr Richardson's political activities won a New Mexico state contract.
The firm is not named in the joint statement issued by Mr Obama's office, but the Associated Press and AFP news agencies have identified it as a company called CDR Financial Products.
The BBC's Kim Ghattas in Washington says this is the first major hurdle Mr Obama has encountered as he puts together his new administration.
'Great sorrow'
Mr Richardson said in his statement that, given the grave economic situation facing the nation, he could not hold up the important work Mr Obama's government must do.
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