Editorial: Blank-check stem cells - Governor missed chance with state loan

Embryonic stem cell research would seem to be an all-or-nothing proposition. Either you oppose use of embryos for medical science, supporting President Bush in his callous veto of expanded federal funding for such research, or you rally behind unfettered expenditures for regenerative medicine, with little governmental oversight over how public monies are allocated.

Actually, there is a third wave of opinion on stem cells, but you won't hear it from many politicians in this election season. The third wave supports increased spending for embryonic stem cell science, but wants safeguards to ensure that researchers stay within clear ethical lines. It wants transparency in decision-making and accountability to prevent money from being channeled inappropriately to favored researchers and biotech companies.

Last week, Gov. Arnold Schwarzenegger missed an opportunity to ally himself with this third wave. A day after Bush cast his first veto to reject a stem cell bill, Schwarzenegger announced a $150 million bridge loan to California's beleaguered stem cell research institute. This agency has been prevented from dispensing $3 billion in state funds -- authorized by voters in 2004...