Saturday, July 17, 2010

Meg Whitman: The MONEY FACE of California Politics

California has set yet another dubious record. The money foisted into Meg Whitman's run for Governor has already become the most expensive in California history and in the history of the U.S. for a State office with no end in sight.

Whitman spent over $100 million to win the Republican gubernatorial nomination, has committed another $100 million to her November election campaign and has given the California Republican Party $30 million for GOP candidates in the 2010 elections. Some see this as obscene and unconscionable. It is, however, fact.

The billionairess from Atherton, California says all these expenditures have come from her own vast fortune and that she has taken no contributions from outside sources. Technically, this is probably so. But any thinking person would not believe in a heart beat that this supposedly ultra-shrewd business woman would spend such enormous amounts of money without a 'carrot at the end of the stick'. A big carrot filled with billions of dollars for herself and her Wall Street cohorts.. 

Whitman has never seriously answered the question as to why she's running for governor in the first place. She has never had an altruistic bent and hasn't even voted in many California elections. Her knowledge of how government works is scant and along with the nebulous pontifications of 'cutting the waste from government', making California schools 'better', cut the State budget and saying she'll bring a business model to government, little substance is identifiable. She does say she'll cut 40,000 State worker jobs without saying which ones and will build 10 new prisons. Apparently, Meg does not understand the costs of building, running and staffing a prison. The cost of building and staffing a medium size, medium security prison for one year amounts to billions of dollars.

Meg does seem to understand 'money' and how to make it, however. She has done very well for herself even with the 'silver-spoon' in her mouth with which she began. Meg has been and is a mega-Wall Street 'insider' and has been cutting deals with the 'big-boys' for years, a matter of incontrovertible record. 

Based on circumstantial evidence, our speculation is that WALL STREET is wanting of a Field General in California, The 8TH largest economy in the world!  Consider the possibilities. Consider the power of owning the California Governor's office. Consider off-shore oil drilling. Consider the CalPers (government backed and insured) hard cash, the largest retirement system in the world. Consider STRS (also government backed), one of the top 10 retirement systems in the world with it's cash just waiting for Wall Street to take East. And this is just the beginning. The $230 million invested in Meg Whitman's run for California governor looks like peanuts by comparison to California's wealth. And Wall Street just may want it.

So, this is one facet of The MONEY FACE of California Politics. The first of a series of articles we'll present over the course of the next several months.  Any comments?


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