Bill Richardson's sudden exit from the future Barack Obama administration delivered dual blows to his role as the nation's leading Latino political figure and to his foundation that funds Latino political causes, political experts said Monday.
The New Mexico governor, who had been on track to be the next secretary of Commerce, cited a federal investigation into state business for his withdrawal, saying it "would have forced an untenable delay in the confirmation process."
He has not been accused of wrongdoing, and at a Santa Fe news conference Monday he said he would be cleared. But the fact that he won't be part of the incoming administration disappointed Latino advocates and experts.
"The withdrawal is a considerable setback and an incredible disappointment for him in terms of staying in the national spotlight," said Christine Sierra, a political science professor at the University of New Mexico. "Beyond the initial shock and disappointment for him is the fact that this is also felt in Latino communities across the nation."
The federal investigation involves a Beverly Hills company, CDR Financial Products Inc., which was paid to help the state issue road-construction bonds. The FBI is looking into whether anybody in Richardson's administration tried to influence CDR's selection.
According to sources in New Mexico, CDR gave $75,000 to Si Se Puede, which was formed to pay the expenses for Richardson and his staff at the 2004 Democratic National Convention in Boston, and $25,000 to Richardson's nonprofit dedicated to Latino causes, the Moving America Forward Foundation.
And anything that taints Richardson could taint the groups associated with him and the causes dear to his heart.
Until the FBI investigation, the breadth and scope of Richardson's career gave him a stature that few, if any, Latino politicians in the nation could match. He spent 15 years in Congress representing northern New Mexico. He served as Energy secretary and ambassador to the United Nations during the Clinton administration.
In recent years, he took on ad hoc roles as a negotiator for international humanitarian crises and went on peacekeeping missions, including to Sudan. He ran for the 2008 Democratic presidential nomination. When his effort sagged, he endorsed Obama.
Richardson has about two years remaining on his second term as governor.
