Consumer Federation of California and Proposition 89

Richard Holober, Executive Director of the Consumer Federation of California, has a great column in the California Progress Report:

Proposition 89: Take the "For Sale" sign off the State Capitol

Since 2004, Chevron gave $3 million in political contributions in California. For a company that made a record $14 billion in profits last year, it was money well spent. Despite public indignation, big oil crushed a proposed state tax on windfall oil profits.

During one 18-month period, banks, insurance companies and other financial interests contributed $8.8 million to state politicians. They defeated financial privacy legislation that enjoyed the support of 90% of California voters.

Phone companies gave $20 million to the governor and Sacramento candidates since 2000. Their generosity bought them new Public Utilities Commissioners, which promptly buried telephone consumer protection regulations just after being adopted by their predecessors.

Our campaign finance system has produced the best government that money can buy. [...]

This November, we can take the “For Sale” sign off the state Capitol. The Consumer Federation of California supports Proposition 89, the Clean Money Initiative, because we must change the rules of politics before ordinary Californians will have a chance to put our interests on an even footing with big corporate donors.

Prop 89 would create a Clean Money Election system similar to the ones that now exist in Arizona, Connecticut and Maine.

Please, go read the whole story.