Taxpayer Alert: Does Failed State Stem Cell Agency Deserve $5 Billion in 2020?

Back in 2004, real estate tycoon Robert Klein authored the $3 billion Proposition 71, a California ballot measure that promised a host of life-saving cures and therapies for Alzheimer’s, Parkinson’s and other diseases through embryonic stem-cell research. The cures and therapies, promoters said, would generate royalties for the state, so it was billed as a win-win for California. Republican Gov. Arnold Schwarzenegger backed the measure, which created the California Institute for Regenerative Medicine.
CIRM bosses bagged huge salaries, but as the San Francisco Chronicle observed last September, “not a single federally approved therapy has resulted from CIRM-funded science. The predicted financial windfall has not

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