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Professor Bainbridge launches his anti-Angelides campaign:

This blog's battle against Phil Angelides' California gubernatorial campaign starts now. On the issues I know best, corporate governance, Angelides was consistently wrong when he was Treasurer. As I wrote in the Harvard Law Review:

Public employee pension funds are even more vulnerable to being used as a vehicle for advancing political/social goals unrelated to shareholder interests generally. Recent activism by CalPERS, for example, reportedly is being “fueled partly by the political ambitions of Phil Angelides, California’s state treasurer and a CalPERS board member, who is considering running for governor of California in 2006.” In other words, Angelides allegedly used the retirement savings of California’s public employees to further his own political ends.

In addition, I'm a little tired of zillionaire left-liberals tax and spend mentality. As I wrote when Angelides declared his candidacy:

You won't find his most telling comment in his press release, nor have I been able to find it in any of the news accounts thus far, but I distinctly heard him say that he plans to raise taxes on those "who don't even need the money."

Could there be a finer example of the basic Democrat principle of confiscatory taxation to finance wealth redistribution? Of course, Angelides himself his a zillionaire who probably doesn't need the money, but aren't you getting a little tired of limousine liberal millionaires telling the rest of us to pony up while they hire expert tax lawyers and accountants to minimize their own taxes?