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Wednesday, May 05, 2010

Will Bill Gross Run For Governor?

News summary by MFWire's editors

One blogger and senior fellow for the New America Foundation thinks that Pimco star Bill Gross is the right man for the California governorship.

Joe Mathews, who is the author of California Crackup: How Reform Broke the Golden State and How We Can Fix It, wrote on the New America Foundation blog California Voices that Gross' expertise in debt may help fix California's economic woes.

"Such expertise is precisely what this state needs," said Mathews. "Gross doesn’t come from politics, but he’s shown an interest, writing frankly, extensively (and bearishly) about this country’s governmental and debt problems."

The current California gubernatorial front-runners are Attorney General Jerry Brown, former eBay chief Meg Whitman and Insurance Commissioner Steve Poizner.

Mathews concedes that Gross "seems much too smart to run for office," and has possible conflict of interest problems because of his financial services background. But, if he won, Mathews posits, California "would have as its CEO a brilliant, tough-minded debt expert with credibility in the markets – at a time when no subject is more important to the state’s fiscal survival." 

Edited by: Daniel Tovrov

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