Bill Richardson a Single Example of Democratic Party Core Off the Beam

N.M. Governor Withdraws Name from Commerce Secretary Consideration

This is what happens when we finance all of our political activities the way that we do.  Gov. Bill Richardson of New Mexico is under investigation for allegedly pressuring N.M. state authorities to steer financial services business to a firm which donated money to his political organizations.

Since the Clinton Administration – of which Richardson was a high-profile member – our Democratic Party has been owned by hedge funds, limousine liberals and other interests who make their money through market manipulation and investing rather than by adding to the economy in a manner which creates tangible value and employs people.  When these big donors come calling, the doors to Congressional suites and governors’ offices come flying open.

At this point, who knows if Richardson did anything wrong.  If more Democrats would have begun raising money the way Barack Obama did in 2008 – placing emphasis on smaller individual donors – the irony in Richardson’s plight wouldn’t sting so bad.

I’ve been a fan of Richardson because he has shown himself to be a good representative and honest broker on the world stage for the United States.  He’s become an expert on foreign policy and as governor has had a decent record.  I hate to see that he’s just another singular example of a well-meaning, seemingly honest, intelligent Democrat distracted by the shine of that Wall Street gold.

From the Washington Post:

The probe in New Mexico involves questions about a California firm, CDR Financial Products, and its president, David Rubin. The grand jury in Albuquerque is looking into whether the firm was given a contract with the New Mexico Finance Authority because of pressure from Richardson.

CDR made $1.48 million advising the authority on interest-rate swaps and refinancing of funds related to $1.6 billion in transportation bonds issued by the agency, state officials confirmed.

The firm and Rubin together gave $100,000 to two Richardson organizations shortly before winning those contracts.