Capitol Alert: Billionaire says he’s in governance group for the long haul

November 27, 2010

Nicolas Berggruen knows fixing to California’s structural shortcomings won’t be a short-term endeavor.

But the jet-setting billionaire says he’s is not daunted by the long haul. He has pledged to invest at least $20 million of his own fortune into a new organization aimed at realizing a long-term vision for improving California’s system of governance.

“How much time will it take? Years,” Berggruen said in an interview with The Bee editorial board today. “Luckily we are still reasonably energetic, and so we will be at this for years.”

Will this be an attempt to return to the old economy, a green economy, democratic or centralist, a state run by financiers or public good?

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