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Democratic trio of '06 hopefuls face Schwarzenegger dilemma
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| Contributor | User 13 |
| Last Edited | User 13 Mar 19, 2004 11:27am |
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| Category | Commentary |
| Media | Newspaper - Sacramento Bee |
| News Date | Friday, March 19, 2004 06:00:00 AM UTC0:0 |
| Description | Last Monday, exactly 2 1/2 hours apart, state Treasurer Phil Angelides and state Controller Steve Westly issued similar press releases claiming credit for actions to protect investors from Wall Street shenanigans.
Angelides was first out of the box at 3:20 p.m. with an e-mail announcement that he had persuaded the California Public Employees' Retirement System to endorse his "initiative to protect investors, pensioners and their families through a wide range of mutual fund reforms."
At 5:50 p.m., Westly's office dispatched a press release saying that the CalPERS investment committee had endorsed stock trading reforms that would "increase investor freedom and promote competition at the New York Stock Exchange."
Both politicians clearly were aiming at building investment reformer images for themselves in an era when misconduct by big business, including insider dealing in the stock market, is a hot political topic. And the dueling press releases neatly frame the developing rivalry between the two as they look ahead to the 2006 election for governor.
It's widely assumed - although without hard evidence - that newly elected Republican Gov. Arnold Schwarzenegger will be seeking a second term that year, but while he's very popular now, having succeeded a very unpopular Gray Davis, no one can predict with certainty what his standing will be with voters two years hence. Schwarzenegger may pull off his agenda, restoring order to the state's finances and adopting a friendlier business climate, but there are no guarantees, and with the fickleness of voters, today's conquering hero can become tomorrow's laughingstock. Thus, Angelides, Westly and the third potential contender, Attorney General Bill Lockyer, are still gearing up to run - with Angelides and Lockyer under the most pressure because term limits will drive them out of their current offices in 2006.
That said, Schwarzenegger's dominating presence presents the trio with a dilemma - how to position th |
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