Sprained Your Arm Patting Yourself On The Back

The nasty mess around New Mexico Democratic Gov. Bill Richardson is getting messier.

The federal investigation into allegations of pay to play in one state agency may be over, but that doesn’t mean Gov. Bill Richardson is in the clear, a top New Mexico political analyst said today.

In an interview with NMI, Albuquerque pollster and analyst Brian Sanderoff pointed out that federal and state investigators are still looking into allegations in the investment scandal that began in New York and has since spread to New Mexico and other states. That case, which is separate from the probe that has ended, involves some prominent Richardson friends and donors.

The probe that we learned today has ended — the federal investigation into allegations that CDR Financial Products received a lucrative investment contract from the New Mexico Finance Authority in exchange for campaign contributions to Richardson and two political action committees he started — cost the governor the commerce secretary job in Washington. But even as President Barack Obama accepted Richardson’s withdrawal of his nomination for that post in January, the president said he looked forward to Richardson’s “future service to our country and in my administration.”

Richardson said at the time that he would continue serving as governor “for now” and was “eager to serve in the future in any way (Obama) deems useful.”

How nice. The Holder DoJ is letting Richardson skate on the campaign finance shenanigans, but playing the muni bond roulette wheel may be the far more serious crime:

In the investment scandal, the founder of a company that was once New Mexico’s investment adviser is under indictment in New York in a pay-to-play investigation there. Among the allegations is that the founder of Aldus Equity, Saul Meyer, helped the son of New York’s then-state comptroller win an investment contract in New Mexico in exchange for his company getting increased business in New York.

In addition, Richardson has taken $20,000 in campaign contributions from another man tied to the scandal who is reportedly negotiating a settlement in New York to avoid criminal charges.

In other words, somebody's cutting a deal for Richardson's neck.

Keep an eye on this one. You thought Rod Blagojevich and Eliot Spitzer's downfalls were amusing (and Mark Sanford's slow-mo train wreck may end up one for the books) and hey, let's not forget Sarah the Quitter, but Richardson may end up being the disgraced Governor with the biggest price tag on his tomfoolery.

Also, what's up with the DoJ killing the pay-to-play probe? I can understand if the investment scandal is juicier, but still, it looks bad for Eric Holder...really bad. May want to hold off with the congratulations on that CIA torture investigation if you're burying Richardson's probe there, Sparky.