Why Does Bill Richardson Withdraw as Commerce Nominee?

Today, the governor of New Mexico Bill Richardson withdrew his his candidacy out of consideration for that post of Commerce Secretary in Obama Administration.

NY Times writes: "Mr. Richardson said that he would continue as governor, and he added, “Let me say unequivocally that I and my administration have acted properly in all matters and that this investigation will bear out that fact.”

"His decision came, he said, after he had concluded “that the ongoing investigation also would have forced an untenable delay in the confirmation process.” Mr. Richardson said in a statement, released by the Obama campaign, that the investigation might last weeks or months."