I was never a big fan of Bill Richardson, so I can't say that news of his departure-before-he-even-got-there from the not-yet-even-seated Obama administration troubles me terribly. I've always had the impression of a guy who plays a lot of angles, by which I don't mean to imply illegality or anything; just a certain personality type that rubs me a little bit the wrong way.
Even so, is it really fair that he have to remove his name on the basis of a grand-jury investigation that doesn't even yet amount to allegations? This is from the Wash Post:
A grand jury in Albuquerque is looking into whether CDR Financial Products received a contract with the New Mexico Finance Authority because of pressure from Richardson or other state employees. CDR made $1.48 million advising the authority on interest-rate swaps and refinancing of funds related to $1.6 billion in transportation bonds, state officials confirmed.
The Beverly Hills-based firm and its president, David Rubin, together gave $100,000 to Sí Se Puede and Moving America Forward, both PACs started by Richardson, shortly before winning the lucrative state contract, records show.
The federal probe heated up considerably last month, just around the time Obama announced Richardson as his choice for commerce secretary, according to sources familiar with the investigation. New subpoenas were issued, and testimony was scheduled from officials at J.P. Morgan Chase who worked for the state with CDR and from the director of Richardson's political action committees.
The piece goes on to say that FBI contacted Obama transition officials to let them know that Richardson was being looked at, which suggests that maybe the Obama team leaned on Richardson a little.
Well, that's politics. But what if Richardson is exonerated? Then he withdrew for no reason. I've written it before and I'll keep writing it until I draw my last breath. Prosecutors and their investigators have too much power to ruin people's reputations, and we should never automatically assume that what they say about people is true. The knowing will wink and say, "Ah, but surely the fact that he withdrew his name indicated that he knows he's guilty." Nonsense. It may merely indicate that he being commerce secretary isn't worth racking up a half-million dollars in legal bills. So for the time being, I feel sorry for the guy.
