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Friday, March 12, 2010
Meg Whitman's Conflicts of Interest
It's clear that this woman would be even worse the Governor Schwarzenegger. Her wealth belies a concern for the public interest. See Los Angeles Times, " Whitman's Funds Could Pose Conflicts":
Billionaire GOP gubernatorial candidate Meg Whitman has invested her vast wealth in firms that sought to profit from the country's credit crisis, in venture capital and hedge funds open only to the wealthy, and in oil, gas, healthcare and other concerns seeking to influence state policy.
The first public glimpse into the financial portfolio of the former EBay chief came Thursday, when she filed an economic-interest disclosure required of candidates.
The holdings present potential conflicts of interest for a governor. Whitman spokeswoman Sarah Pompei said the candidate would "likely" move her holdings into a blind trust if she is victorious "and will scrupulously avoid any conflicts of interest."
Moving investments into such a trust has been standard practice for wealthy officeholders. Whitman's opponent in the June primary election, state Insurance Commissioner Steve Poizner, has placed his investments in a blind trust. Gov. Arnold Schwarzenegger did the same.
This is sad, isn't it? The system is so broken that you have a couple of wealthy business people who should stay home and manage their portfolios and a principled conservative who has almost no chance of winning because he isn't rich. That leaves California with Moonbeam, part 2.
The reality is that no matter who is governor, things won't get better until the redistricting takes place and lines are drawn so that they do not make incumbency or one-party control of a district automatic. The legislature is terminally infected by special interests. Whitman, Devore, Brown -- it actually won't matter much until Republicans gain more power in the Assembly and Senate.
This is sad, isn't it? The system is so broken that you have a couple of wealthy business people who should stay home and manage their portfolios and a principled conservative who has almost no chance of winning because he isn't rich. That leaves California with Moonbeam, part 2.
ReplyDeleteThe reality is that no matter who is governor, things won't get better until the redistricting takes place and lines are drawn so that they do not make incumbency or one-party control of a district automatic. The legislature is terminally infected by special interests. Whitman, Devore, Brown -- it actually won't matter much until Republicans gain more power in the Assembly and Senate.