Bayh bows out of '08 presidential race

POSTED: 11:33 a.m. EST, December 16, 2006

WASHINGTON (CNN) -- Less than two weeks after filing papers to set up an exploratory committee for a possible bid for the Democratic nomination in the 2008 presidential race, Sen. Evan Bayh has dropped out of the running. "After talking with family and friends over the past several days, I have decided that this is not the year for me to run for President," the Indiana Democrat said in a statement issued Saturday. "The odds were always going to be very long for a relatively unknown candidate like myself, a little bit like David and Goliath," the statement said.