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COMMENTS: Commerce Department
The day's other development from Barack Obama's transition concerned his nominee for Commerce Secretary, Gov Bill Richardson of New Mexico. NBC's Lisa Myers reported on a federal grand jury investigation into a possible pay-to-play deal in New Mexico in 2004. The state paid $1.5m in management fees to CDR Financial Products for issuing bonds in the same year that CDR's founder David Rubin contributed $100,000 to Richardson's political action committee to help pay for his expenses at that year's Democratic National Convention. CDR insisted its contracts were "won on merits after a rigorous process."
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