Bill Daley Drops Bid for Illinois Governor

In a stunning political development, former White House Chief of Staff Bill Daley is dropping out of the governor’s race because, as one longtime political friend put it Monday, he didn’t have the “fire in the belly.”

When asked if he was throwing his hat out of the ring, Daley said emphatically:

“Yes.”

Daley, the brother and son of former Chicago mayors, scheduled a news conference for Tuesday morning at the Union League Club, where his spokesman said the former Commerce Secretary would explain his decision to voters.