Here is my theory:
Regardless of whether Clinton, Obama, Edwards, or (possibly even) Gore becomes the presidential nominee...I feel any of them could benefit from Richardson as their running mate. Richardson has a ton of experience and is from the West. The 2008 Democratic National Convention will be held in the Western state of Colorado...a state which borders New Mexico...the state where Bill Richardson is governor.

Here is a quote from Economist magazine shortly after the 2006 midterms:
"Republicans suffered big losses in a region that voted solidly for Bush in 2004—the Mountain West. Three Republicans lost house seats. Conrad Burns lost his Senate seat in Montana (59% for Bush in 2004). Democrats now control five of the eight governorships in the West, compared with none in 2000."

I think he's trying to angle himself to be VP and he would be a frontrunner. He probably can't win the nomination at this point and he knows that but staying in the race makes him more visible to be a running mate. He would be a good candidate. Plus like you say he could help in the West and with the hispanic vote.

he would be a good choice. if he was a better speaker he would probably receive the presidential nomination

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In a free society, the government's job is simply to protect liberty- the people do the rest.

IF they don't all kill each other first. The Dem candidates are going at each other's throats pretty good right now. It's fun to watch!!

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"This is a time for a national imperative not to fail in Iraq." Condoleeza Rice, January 11, 2007

This is something I have been greatly considering lately. Richardson would appear to be the strongest VP candidate out there (aside from a Clinton/Obama ticket, which I dont see happening) Its no secret that the Republicans are losing ground on the West Coast and Richardson is very highly regarded by both sides out there. That being said, I wonder if his speech inefficiencies will hold him back. Something interesting to consider.