"No matter how paranoid or conspiracy-minded you are, what the government is actually doing is worse than you imagine." - - - William Blum

May 17, 2007

Groperzenegger is being bad (for the umpteenth time). From Arnoldwatch.org:

Quick Route to the Inner Circle

ArnoldWatch WeblogMay 17th, 2007 - 4:15 PM
By Carmen Balber

Bill Gross Powers -- manager of the world's largest bond fund at Newport Beach-based PIMCO -- just catapulted into Arnold's top donor list with a whopping $250,000 contribution at the beginning of May.

This is Gross' first contribution to the gov, and a quick search of campaign contribution records found that he hasn't given a significant donation to any California politicians or causes in the last 8 years. So what prompted such an outsized donation by a non-donor?

Perhaps it was the unprecedented offer of an inside line to the governor's office that sealed the deal. The gov is selling four private meetings and "regular conference calls with the Governor and leading and well-known Californians from the public and private sectors" with a $250,000 price tag to donors who want to become part of the "Governor's Executive Committee". The next meeting is cocktails and dinner at the gov's Brentwood manse.

At the same time, the top item under discussion in Sacramento is the budget, where a big item on the table is Arnold's plan to pay off current bond debt more quickly than scheduled (and free the state up to sell more).

An inside line on that action couldn't be a bad thing if you're managing the world's largest bond fund.Read more at ArnoldWatch.org

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