CDR Financial Products

(Newser) - CDR, the Beverly Hills financial firm at the center of the pay-for-play scandal investigation that's snagged New Mexico Gov. Bill Richardson, is no stranger to the inside of a courtroom. It's being targeted by the SEC, the IRS, and the Department of Justice, the Los Angeles Times reports. The company,...

(Newser) - Bill Richardson has withdrawn his nomination to be commerce secretary amid a grand jury investigation into a lucrative state contract awarded to a firm that backed the New Mexico governor's political activities. Barack Obama's transition office said today that Obama has accepted Richardson's withdrawal.