Michael Steele drops out


Oxon Hill, Maryland (CNN) - Republican National Committee Chairman Michael Steele dropped his re-election bid Friday and endorsed former Bush administration official Maria Cino to succeed him.

"I really thank you for the chairmanship of this party, for the two years that I have had and at this time I will step aside for others to lead," he said. "But in so doing I hope you all appreciate the legacy I leave despite the noise. Despite the difficulties, we won."

"As many of you figured out I am a fighter, and I am a little bit obstinate," he continued. "But I am because I believe in the fight ... I will step aside because I think the party is ready for something different."

Steele then released his delegates and asked them to support Cino, whose bid is backed by House Speaker John Boehner.

How astute of him to figure out what the party is ready for only after the balloting turned against him...