On September 10, 2009
Can the California Insurance Commissioner Stop ‘The Terminator?’
California is a cauldron where new ideas bubble up and then spread across the nation. That’s why a legal wrangle between Insurance Commissioner Steve Poizner and Gov. Arnold Schwarzenegger’s administration could have larger implications than simply a battle between one man who wants to be governor and one who is leaving with his legacy in limbo. Arnie is best remembered as the hero of action movies like “The Terminator,” but as the governator he resembles the 98-pound weakling who gets sand kicked in his face. Desperately seeking a way to pass the state budget, which is “seriously late and in the red,” he’s latched on to a partial solution: sell a billion dollars worth of assets from the State Compensation Insurance…
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