First Rahul Dravid gives up captaincy at a time when he was not doing too badly as a captain. Now Sachin Tendulkar, wisely so, refuses to take over.
There's surely something (or many things) going on in BCCI which are fishy and that the senior players do not wish to take up any role in addition to being a players.
I think Sachin did the wise thing by refusing the captaincy.