Tom Steyer can make California golden again [View all]

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Tom Steyer can make California golden again
I loathe billionaires. But the former hedge fund manager could be a class traitor in the mold of FDR

By Jeff Cohen
Published May 6, 2026 10:30AM (EDT)


(Salon) As a progressive who watches too much television, when I see a Democratic candidate dominating the TV air war with ubiquitous campaign ads, I usually know that’s a Democrat I should oppose — the one being lavishly funded by wealthy corporate interests. And the ads are usually vapid and empty.

Living in California these past months, I’ve had to adjust my normal mindset. Because a Democrat who is running for governor and dominating the airwaves has put out one substantive ad after another, calling for taxing the wealthy, breaking up utility monopolies and standing up to Big Oil. Each ad could have been released by Vermont Sen. Bernie Sanders — like the one featuring California Rep. Ro Khanna talking about taking on the “big insurance companies” to pass universal “single-payer healthcare” for California. Or the candidate’s video message denouncing AIPAC, the American-Israel Public Affairs Committee — “they’re attacking progressive Democrats every chance they get” — and the Democratic Party establishment for “not talking more forcefully” against the Iran war.

The candidate putting out all these progressive ads is billionaire Tom Steyer, a former hedge fund manager turned environmental advocate who is now self-funding his campaign to the tune of $130 million — so far.

Let me be clear: I generally loathe billionaires, hedge-funders and everyone in the financial speculation elite. I remain skeptical that someone as wealthy as Steyer, who operated at the heights of amoral financialized capitalism, can deeply understand and fight for working-class interests. ......................(more)

https://www.salon.com/2026/05/06/tom-steyer-can-make-california-golden-again/