He said he had to win in South Carolina and he finished third here.  So less than 48 hours later, Fred Thompson announced that he is ending his presidential campaign.

“I hope that my country and my party have benefited from our having made this effort,” he said in a statement. “Jeri and I will always be grateful for the encouragement and friendship of so many wonderful people.”

Mr. Thompson’s advisers said he would not make an endorsement in the race.

Mr. Thompson, 65, rode in to the campaign powered by the high hopes of conservative Republicans who were disappointed with the field of candidates and hoped that Mr. Thompson — a television actor and former counsel to the Watergate committee — could rally conservatives behind him. But Mr. Thompson instead brought a phlegmatic style to the campaign trail, and his candidacy never took off. [NY Times]

This is great news for Mike Huckabee as he looks to rebound from his loss on Saturday.  And as far as the endorsement statement, I would be quite surprised if Thompson doesn’t throw his support behind anyone.