Congressman Campbell’s post just a little while ago that suggests critics of SEC Chairman Christopher Cox are "right" when they ascribe the current financial situation to him is political "piling on" that is not only wrong, it is really undignified. Campbell ought to think twice: once about the truth, and again about the district he was elected too.

As to the truth, Chris Cox has done a great job at the SEC protecting stockholders. He has enacted reforms that go far beyond what one would have expected from a Reagan Republican in the job. The current crisis is not somethingCox created. Frankly, if Campbell wants to blame someone, he might want to look to the mortgage brokers and secondarymortgage market businesses owned by his pals, who actually handled the bad deals, andwho have far more culpability than Chris Cox.

Orange County could benefit from a fair view of Chris Cox’s performance, not the typical "blame game" that Campbell exposes.How about you John? You’ve been a Congressmanbefore and during the crisis? What have you done to fix the system? Did you… Read More

The Senate will go into session at4 PM Friday and the Assembly will thenmeet at 5 PM to vote on the fixes that were hammered out this afternoon with the Governor and the other Big 4 leaders, avoiding the veto and the veto override threats.… Read More

OVERRIDE CHALLENGE #1 It would appear that the first major sticky wicket has popped up in efforts to override the pending veto by Governor Schwarzenegger of the budget that has been shipped his was by the legislature. One (unfortunate) component of this compromise budget is that around $5 billion dollars of the "gap" (the shortfall that needed to be made up because Republicans correctly refuse to raise taxes and Democrats refuse to make more needed cuts in spending) is "made up" by forcing California taxpayers to, in essence, pay their taxes earlier in the year.

That particular component of the budget deal was in a trailer bill which required only a majority vote. To my understanding, no GOPers went up on that rather ugly part of the sausage-deal.

Well, if the Governor does veto the budget and trailer bills, suddenly that component part will need a 2/3 vote — which means a pretty good number of Republicans would have… Read More

OVERRIDE CHALLENGE #1 It would appear that the first major sticky wicket has popped up in efforts to override the pending veto by Governor Schwarzenegger of the budget that has been shipped his was by the legislature. One (unfortunate) component of this compromise budget is that around $5 billion dollars of the "gap" (the shortfall that needed to be made up because Republicans correctly refuse to raise taxes and Democrats refuse to make more needed cuts in spending) is "made up" by forcing California taxpayers to, in essence, pay their taxes earlier in the year.

That particular component of the budget deal was in a trailer bill which required only a majority vote. To my understanding, no GOPers went up on that rather ugly part of the sausage-deal.

Well, if the Governor does veto the budget and trailer bills, suddenly that component part will need a 2/3 vote — which means a pretty good number of Republicans would have… Read More

"We know. Does Janice?" is the threatening ending to a letter I received at my office on Monday. Addressed to mefrom Mr. G. Loves Areoff at 325 N. Maple Dr., Beverly Hills, CA, and typed on patriotic stationary, the letter serves me warning: "[i]n response to your involvement with www.exposeobama.com, we have taken the liberty to do some research on you as a patriot……" "Your ego allows you to feel you can live a certain hypocritical lifestyle. We’re not refering to your weight or that you may take a stiff drink or a cigar. It’s the women, James…." "We know. Does Janice?" Attached is a complete copy of the letter.

Janice, of course, is my wife and law partner. A couple weeks ago, I soberly had her name tatooed on my arm in Las Vegas as a complete surprise for our 21st wedding anniversary (she liked it!). We are faithful spouses.

I’vebeen threatened before in politics.Most significantlywhen I was an elected official. But not often, and neverin connection with my family. My friend, brainy San… Read More

My reliable Capitol sources are telling me that a new budget deal will be announced this afternoon. It is a deal that includes all parties in the Big 5. The Governor will get his entire Budget Reform package as he articulated in his veto announcement (though as we have pointed out, this is a good start but far short of a Gann-style limit on spending). As for the trading points to get there, well, I have that info but unfortunately have been embargoed from sharing at this time. But now that you know this much, start shaking the trees and maybe you'll find out… Or just wait for the press conference…… Read More

Before Fleischman e-towel slaps me for this entry not being "California enough," it is coming from a CA-based consultant, so I’m goin’ with it.

Either Jennifer Kerns at K Street Communications’ blog is putting herself out there on this one, quoting an anonymous "high-placed DNC insider," or — if she is somehow correct — no one will soon forget….

The Street is hearing from a source this morning that a high-placed DNC insider has confirmed that Vice Presidential pick Joe Biden will step down from the Democratic ticket. The report is that on or about October 5, Biden will excuse himself from the ticket, citing "health problems," and he will be replaced by Hillary Clinton. This follows weeks of a post-Palin bounce following the RNC Convention, and significant… Read More

The fine crew at Capitol Weekly (www.capitolweekly.net) have the details I could not give. Ah, the constraints of being fair but totally biased…… Read More