Apr 202010

IT’s under 20 folks and Whitman is going to have to liquidate some more hedge funds from ethically-challenged Goldman-Sachs to buy more support.

Smashmouth politics 101.

This jewel came in from an Industry publication called the Worker’s Comp Executive.

Poizner’s Momentum Builds – Whitman’s Waters Troubled

The investigation by the Federal Government into Goldman Sachs is expected to negatively impact Meg Whitman, billionaire candidate for California governor, say a host of political analysts. The campaign of her opponent in the primary, Insurance Commissioner Steve Poizner, has been hacking away at her lead.

The investigation stems from activities that happened on her watch. Whitman was a member of the Board of Directors at Goldman until a controversy drove her resignation. The controversy revolved around how she received shares in initial public offerings. She was later fined for her activities.

The scandal also comes close to Attorney General Jerry Brown, the Democratic candidate. Mr. Brown’s sister, Kathleen, is currently a Sachs executive.

Whitman, sometimes dubbed “eMeg” or “nutMeg,” has a compelling but constantly shrinking lead as the result of spending over $46 million in advertising- more than any candidate in state history. But polling shows increasing momentum for insurance commissioner Steve Poizner who has cut her lead in half in recent weeks even though he is spending far less.

Political pundits say she will be impacted by negative publicity from the Goldman Sachs fraud case because her pitch has been that the financially impacted state needs to “be run like a business.” She says her history as CEO of eBay is the reason that she can turn the state around.

Whitman will suffer damage from the scandal, say experts. How much depends upon what unfolds in the press, and how a very trapped Whitman deals with it. Whitman is not noted for transparency nor is she well liked by the media.

“Voters have a very legitimate question to ask of Whitman, which will be difficult for her to answer,” Barbara O’Connor, director of the Institute for the Study of Politics and Media at Sacramento State University told the Christian Science Monitor. “On the one hand, she needs to distance herself from the scandal; on the other hand, it happened on her watch. Given her campaign strategy, how can she tell voters she didn’t know what was going on?”

Poizner, in recent weeks has narrowed her lead from 40 to 20 points and could exploit the Goldman Sachs scandal for the June primary. Whether he has enough time to close the gap will make for an interesting campaign, agree most analysts.

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