Barack Obama announced the nomination of New Mexico Gov. Bill Richardson as Commerce Secretary at a press conference this morning. The president-elect what he thought about opinion that said the Commerce Secretary post was a "consolation prize" for Latinos.

Obama replied, "Commerce secretary is a pretty good job." He then indicated that Richardson may not be last Latino selected for a cabinet position or White House staff.

"I think that when people look back and see the entire slate what they will say is not only in terms of my cabinet but in terms of my White House staff, I think people are going to say this is one of the most diverse cabinets and White House staffs of all time," said Obama

This video is from MSNBC's News Live, broadcast Dec. 3, 2008.

Download video via