San Francisco Chronicle: $20 million tab to defeat privacy bill

Bill Wallace reports that more than $20 million was spent in campaign contributions and lobbying expenses to defeat the California Financial Information Privacy Act, SB773.

A Chronicle analysis of spending reports filed with the secretary of state’s office shows that corporations opposed to the measure spent more than $8.8 million on political contributions during the last 18 months and another $12 million on lobbyists and related costs.

Experts said the campaign against the measure will probably go down as one of the most expensive in state history — much like the $17 million state and local campaign by electrical power companies in the wake of the California energy deregulation fiasco.

This site uses Akismet to reduce spam. Learn how your comment data is processed.