Magic: Inspiring Future Generations to Fulfill the Promise of California's Democracy

The "magic" of hope. The "magic" of dreams.

You had to be there and I’m glad that I was.

Fifth graders and high school students of a different races, ethnicities and genders.

I watched children’s faces light up with excitement and hope. I watched children's eyes sparkle with wonderment as the speaker on stage spoke.

I haven't witnessed this emotion since the John F. Kennedy days.

"I am looking forward to working with you, leaders from throughout the state, to make California a place that serves the many, and not just the few; to forge a future as bold and bountiful as California's potential; and to lift up all who have been left out, locked out, or left behind."

With these words, the speaker touched the hearts of a future generation of Californians by believing in them, and having faith in their potential. The speaker sparked their imagination by challenging them to innovate and to dream big dreams "for" California. The speaker inspired them to rise to the challenge, and lead, by taking the high road, lifting all boats, and making certain that no Californian is forgotten, or left behind.

Who had the "magic" to inspire a new generation of Californians to fulfill the promise of California’s democracy?



Phil Angelides, California State Treasurer and candidate for California Governor.



It was the Tuesday after Thanksgiving when Earvin "Magic" Johnson, basketball legend and head of Magic Johnson Foundation and Magic Johnson Enterprises, shared the stage with Angelides to announce his endorsement Angelides for Governor. Magic praised Angelides for his leadership: "California needs a new Governor. Phil Angelides has the business experience, the proven leadership skills, and the vision to be a great Governor." He added that Angelides would be a governor who 'serves the many, not just the few.' Magic's endorsement is among the most coveted in California politics. U.S. Congresswoman Maxine Waters and California State Assemblymember Mark Ridley-Thomas also participated in the event.

Just what is the "magic" of Angelides’ vision, leadership and experience that Magic referred to?

A belief that California should be "One California" and "not Two Californias" – a state of "haves" and "have nots."

A belief in the double bottom line.

In other words, governing is more than balancing the budget, it’s about having the vision and tenacity to take the moral high ground in being fiscally and socially responsible.

As Treasurer, Angelides pioneered the Smart Investment and Double Bottom Line initiatives to direct investment capital – through state programs and the state’s investment and pension and investment funds to spur economic growth in urban areas, create jobs, and earn solid returns for taxpayers and pensioners. Since these investments were launched in 2000, California has directed more than $26 Billion in capital into investments ranging from urban businesses to mortgages for working Californians. The Pooled Money Investment Account – a $61 Billion investment fund managed by the State Treasurer – has made smart investments in California Communities, and earned nearly $10 Billion under Angelides’ leadership.

The dual bottom line.

As California’s Chief Investment Officer, Angelides serves on the Boards of the California Public Employees’ Retirement System (CalPERS), the nation’s largest pension fund with $190 Billion in assets, and the California State Teachers’ Retirement System (CalSTRS), the nation’s 3rd largest pension fund with $116 Billion in assets.

Angelides serves on these Boards with two other elected officials who are running for Governor in 2006. But what sets Angelides apart from these elected officials, is his courage and tenacity to stand the moral high ground.

The integrity and stability of our financial markets is threatened by revelations of corporate malfeasance, deception and fraud, and the systemic breakdown in ethics and standards of conduct has undermined the very foundation of our financial institutions, damaged our economy and harmed millions of Americans.

To restore the public’s faith in the financial system, Angelides demanded new standards for exposure, enacted the toughest standards in the nation for mutual funds, and used "the power of divestiture" to protect health and international human rights. Specifically, it was at Angelides urging that CalPERS sued some of the nation’s largest investment banks for promoting Enron bonds when the banks knew that Enron was on the brink of disaster. It was at Angelides’ urging that California put a moratorium on tobacco investments. It was at Angelides’ urging that CalSTRS and CalPERS adopted tobacco-free investment policies and divested $800 Million in tobacco holdings.

The dual bottom line.

Socially Responsible Investments for Californians and for California.

The dual bottom line is what also intrigues me about "Magic" Johnson, a superstar athlete who led the LA Lakers to five NBA Championships and the US Olympic Team to a Gold Medal, who also believes in making socially responsible investments that will revitalize urban communities.

Over the past few weeks, as news of fundraising scandals and briberies throughout the nation unfold, Americans and Californians are beginning to lose confidence in our institutions of business and government.

Without question, we are at a critical crossroad for democracy.

America and California needs a leader who will take the high road, and inspire a new generation of Californians to be guided by a vision of social responsibility.

Angelides could very well be that leader.