Political Clout Pulls in Cash

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http://www.latimes.com/news/local/la-me-money7jul07,1,6382284.story?coll=la-headlines-california

Political Clout Pulls in Cash
Governor and state treasurer raise millions from donors doing business with California.

By Robert Salladay
Times Staff Writer

July 7, 2005

SACRAMENTO — While raising millions of dollars from out-of-state companies doing business in California, Republican Gov. Arnold Schwarzenegger and Democratic state Treasurer Phil Angelides have made policy decisions favorable to some of the wealthy donors.

Schwarzenegger and Angelides, a candidate for governor, can influence billions of dollars in state spending and bond issues. No other current elected state officials have solicited and received as much money from lobbyists, corporations, law firms and investment houses outside California, state records show.

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Since his campaign for governor began nearly two years ago, Schwarzenegger has raised $9.2 million from companies and individual donors in 42 states and Washington, D.C. That is more than 16% of the total $56.3 million Schwarzenegger has collected since August 2003.

Angelides has raised $3.6 million from contributors in 37 states and Washington, D.C. — nearly 17% of the $21.4 million he has raised since 2001, the start of his reelection campaign. Most of his out-of-state donors are from New York, the center of the U.S. financial markets; Washington, D.C.; and Boston.

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