February 7th, 2008 10:15 EST
Mormon moneyman, Romney, withdraws
Former Massachusetts Governor Mitt Romney has dropped his bid for the Republican nomination to the U.S. presidency.
Romney made the announcement in Washington Thursday, two days after winning some states in Super Tuesday voting, but not enough to gain on rival John McCain.
He said if he continues to compete with McCain, he would forestall the launch of a national campaign, making it easier for Democratic presidential hopefuls Hillary Clinton or Barack Obama to win.
He said the two Democrats have made it clear they want to pull out of Iraq, so he cannot allow his campaign to be, as he put it, aiding the surrender to terror.
McCain claimed frontrunner status for the Republican nomination after Super Tuesday voting, when more than 20 states held nominating contests. He now has more than half of the delegate votes needed to win his party's nomination for president.
Former Arkansas Governor Mike Huckabee remains in the Republican race, along with House of Representatives lawmaker Ron Paul, who trails far behind.
For the Democrats, Clinton and Obama each scored key wins Tuesday but no definitive victory. They are focusing on a race Saturday in Louisiana and Tuesday in Washington D.C. and the adjacent states of Maryland and Virginia.
Obama has raised more than $7 million since the Super Tuesday voting. The Clinton campaign announced Wednesday that the former first lady loaned $5 million of her own money to her campaign late last month.
2,025 delegates are required to win the Democratic presidential nomination, while 1,191 are needed to win the Republican nomination.