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Gregg’s Decision 'Rather Strange'

Thursday, 12 Feb 2009 | 6:17 PM ET

“Rather strange,” that’s how the actions of Republican Sen. Judd Gregg of New Hampshire were described on Fast Money.

As you may know Judd abruptly withdrew his nomination as commerce secretary Thursday, citing "irresolvable conflicts" with President Barack Obama's handling of the economic stimulus and 2010 census.

U.S. Transportation Secretary Ray LaHood tells Fast Money "Senator Gregg approached President Obama about becoming part of the Obama team. I think people will think it's odd that he didn't realize (being in Obama's cabinet) didn't comport with his own philosophy. People will find that strange."

"I think people should know the administration did not come after Senator Gregg. He came to them," LaHood says.

Gregg Withdraws Comm. Secretary Acceptance
Sen. Judd Gregg withdraws from consideration as commerce secretary, citing philosophical differences with the Obama Administration.

Gregg, 61, is a former New Hampshire governor who previously served in the House. He has been in the Senate since 1993 and currently serves as the top Republican on the Senate Budget Committee, where he is known as a crusader against big spending.

He was Obama's second choice to fill the Commerce portfolio.

New Mexico Gov. Bill Richardson withdrew several weeks ago in the wake of a grand jury investigation into alleged wrongdoing involving state contracts. He has not been implicated personally.


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Trader disclosure: On Feb. 12th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (CAT) Call Spread, (ENER) Call Spread, (EEM) Call Spread, (GDX) Call Spread, (GLD) Call Spread; Najarian Owns (CHK) Put Spread; Najarian Owns (FCX) & (FCX) Calls; Najarian Owns (GS) Calls; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls; Najarian Owns (MOS) Call Spread; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (UNH); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (COF), (USO), (BBT); Macke Owns (RIMM), (AAPL), (MS), (TM), (SDS)

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