Looks as if it's all over but the shouting — although that could be loud, long and loaded with irony ...

Gov. Bill Richardson, lead subject of a federal investigation into contracting irregularities, at last might be off the hook; same for two or three top aides. The scrutiny, begun in 2008, stayed with the governor so long that he had to excuse himself from serving as commerce secretary in the Barack Obama administration. And the shadow over him hindered his effectiveness as whipcracker over the New Mexico Legislature.

Federal investigators pored over records to see whether political contributions were what got California-based CDR Financial Products chosen as an adviser on state transportation bond transactions — and whether Richardson administrative and campaign topkick David Contarino had a role in hiring CDR, which was paid some $1.5 million in fees during 2004-2005.

The U.S. attorney conducting the investigation, Greg Fouratt, is something of a hybrid: Republican-appointed during the last throes of the George W. Bush administration, he was merit-selected by a panel of federal judges. Fouratt managed to nail former state Sen. Manny Aragón and some cronies in a separate bribery case. He should be kept in office.

Whatever goods he had on the governor might never be known: Several weeks ago, he forwarded his findings to a Justice Department now headed by Democrat Eric Holder. There they languished — until word was leaked to an Albuquerque TV station Wednesday night that there'd be no further action. A reliable source confirmed that decision, or non-decision, to Barry Massey, state-Capitol bureau chief of the Associated Press.

The feds don't make formal announcements that they're throwing in the towel — so maybe Fouratt is holding something in reserve. But judging from the indignation being expressed by state Republicans, it's pretty clear that the prosecutors' case in chief is out the window; or under the rug, Repubs are grumbling.

State GOP chairman Harvey Yates cites Holder's declaration that attempts to politicize the Justice Department won't be tolerated — insinuating that Holder's decision is purely political.

What Holder was referring to was that, under Bush leadership, Justice had been "badly shaken" by allegations of improper political interference — by the likes of New Mexico's Republican ex-Sen. Pete Domenici.

The heat is still on Domenici, and, to a degree, on ex-Rep. Heather Wilson, who tried and failed to succeed Pete. So any complaints from Republicans about politicized federal prosecution may come off as under-the-breath muttering ...

Attorney General Holder should, within the strictures against spilling the beans on the prosecutorial process, call a press conference — perhaps on his upcoming trip to New Mexico — and say, for the record, why a case that did our governor so much damage has been dropped. Such a statement might raise Repubs' blood pressure, but it could help clear the way for Richardson's return to high federal office.

As it is, the governor has met with North Korean officials — and was with a trade delegation to Cuba when the good news got out. His comeback might have begun already.

The line between bribery and mutual back-scratching has always been a smudgy one, so the governor's insistence on his innocence appears to have merit — just as Domenici's alleged attempt to intimidate then-U.S. Attorney David Igesias might amount merely to Pete being Pete. As for Justice Department declarations that it's above partisan politics, it'll take more than a grain of salt for us to swallow it.