I guess California isn’t in such dire financial straits after all!

AP reports that Governor Schwarzeneggar has authorized a $150 million loan to California’s stem cell institute for embryonic stem cell research.

That money is as good as gone. There is no way an entity is going to be able to pay this back. Venture capitalists and pharmaceutical companies would have been on this if there was any way this could turn profitable. We have not banned embryonic stem-cell research; we have only refused to fund it with federal tax dollars.

Illinois Gov. Rod Blagojevich at least diverted $5 million from the state budget with no fantasies about the money ever coming back. :roll: