Divvying Up The Stem Cell Bonanza
By Business Week,
Business Week
| 11. 22. 2004
California's Proposition 71 has critics of conflicts and favoritism ready to pounce
Long before California voters passed Proposition 71 on Nov. 2, authorizing the state to pour $3 billion of taxpayers' money into stem cell research, the measure generated plenty of debate. And it wasn't just conservatives opposing the measure on religious grounds. Even supporters of the research, which one day could lead to cures for everything from diabetes to cancer, argued that the law gives vested interests too much say over who will get the funds.
So as officials move to appoint an oversight committee that will weigh funding requests, they are mindful that critics will be watching their every move. While architects of the law insist the appropriate checks and balances are built in, controversy continues to swirl around a decision-making process that some see as overly secretive. "Clearly the initiative is written to invite every conceivable form of corruption in the allocation of these funds," says Republican State Senator Tom McClintock, who opposed the law.
The controversy in California is broadly echoed at the federal level. Over...
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