Richardson withdraws as Commerce Secretary , page 1

Heard this on a news commercial for later on tonight, decided to look it up, didn't see it posted so if it was already my apologies!

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WASHINGTON - Pay-to-play allegations against Gov. Bill Richardson (D-N.M.) forced him to withdraw today as the nominee of President-elect Barack Obama for the post of Commerce Secretary.
In the first scandal to hit the "no-drama Obama" team, Obama said he accepted Richardson's move "with deep regret" and praised "his willingness to put the nation first" by avoiding bruising confirmation hearings.

Hilary supporter turned Obamatron....no go?

There is some sort of scandal going on in NM pending a $1.5 million donation to CDR Financial Products in Beverly Hills, CA from the New Mexico Finance Authority back in 04.

Any thoughts on this? Legit reasons for bailing out on this or something more? I personally think his reason is sound, just from what I've read in the article, I could be wrong though.

I'm still in the process of looking all these things up so if anyone else has anything to share by all means!

more news articles
NPR
Timeline preceding Richardson withdrawal