Phil Angelides

Angelides was born in Sacramento, California, to Helen (née Papadopoulos) and Jerry Angelides, who were Greek immigrants.{{cite web|url=http://www.legacy.com/obituaries/sacbee/obituary-preview.aspx?n=helen-angelides-eleni&pid=147664785&referrer=106 |title=Helen (Eleni) ANGELIDES Obituary: View Helen ANGELIDES's Obituary by The Sacramento Bee |publisher=Legacy.com |date=January 7, 2011 |access-date=May 30, 2014}} Growing up, Phil and his brother Kimon were encouraged by their father to learn about geography and the United States government. Their father would quiz them weekly on these topics.

Angelides was educated at The Thacher School in Ojai, California and graduated from Harvard University in 1974, majoring in government as a Coro Foundation Fellow.{{cite web|url=http://www.angelides.com/meetphil/ |title=Meet Phil |access-date=October 31, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20090423015011/http://www.angelides.com/meetphil/ |archive-date=April 23, 2009 }}

Angelides and his wife Julie have three daughters, Megan, Christina, and Arianna.{{cite web|url=http://www.smartvoter.org/1998jun/ca/state/vote/angelides_p/bio.html |title=Full Biography for Phil N. Angelides |publisher=Smartvoter.org |access-date=April 16, 2015}} His eldest daughter, Megan Garcia-Angelides, was the campus coordinator for his 2006 campaign.{{cite web|url=http://www.angelides.com/students/welcome.html |title=Students for Angelides - Welcome |access-date=April 6, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060502184015/http://www.angelides.com/students/welcome.html |archive-date=May 2, 2006 }}

Angelides' interest in politics was ignited in 1971, during his college freshman year, when he met anti-war activist Allard Lowenstein.{{cite web|url=http://www.angelides.com/media/news/2006_0429_underdog.html |title=Angelides embraces underdog role |access-date=August 8, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060802194204/http://www.angelides.com/media/news/2006_0429_underdog.html |archive-date=August 2, 2006 }}

In 1973, while in college, Angelides unsuccessfully ran for Sacramento City Council against a popular incumbent. From 1975 to 1983, Angelides worked for California's Housing and Community Development agency. During that time, he again ran unsuccessfully for city council in 1977.

Angelides was an early supporter and fundraiser of the eventual 1988 Democratic Presidential Nominee, Michael Dukakis, and maintains a strong friendship to the present. Dukakis has referred to Phil as "one of the five or 10 best people in American politics today."{{cite web|last=Marinucci |first=Carla |url=http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/05/28/ING6EJ0UHT1.DTL |title=Voter's Guide to the June 6 California Primary / Phil Angelides / His roots give him a toughness when the going's rough |publisher=SFGate |date=May 28, 2006 |access-date=April 16, 2015}} His work with Dukakis led him to serve as the chairman of the California Democratic Party from 1991 to 1993.

Angelides first ran for State Treasurer in 1994, losing in the general election to Matt Fong. He served as Co-Chair of the Sacramento Mayor's Commission on Education and the City's Future from 1995 to 1996. He then ran again for State Treasurer in 1998 as a Democrat and won, and was re-elected in 2002.

From 1999 to 2007, Angelides served as California State Treasurer. As Treasurer, he was an ex-officio member of the boards of the California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS),Raine, George. [http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2005/04/13/BUG2DC78FJ1.DTL&type=business Pension funds urged to sue AIG. State treasurer calls for corporate reform after stock price falls.] San Francisco Chronicle, April 13, 2005. which are the nation's first and third largest public pension funds.

In 1999 Angelides launched the ScholarShare college savings trust, described by the Los Angeles Times as one of "the nation's best," (a subsection of the scholarship portion of the ScholarShare program was discontinued due to lack of funds after only a year) and sponsored a $25 billion bond to relieve overcrowding and repair damaged schools.

He was considered a leader in the corporate reform movement{{Cite journal|url=http://www.thenation.com/article/new-colossus|journal=The Nation|last=Greider|first=William|title=The New Colossus|date=February 28, 2005|access-date=May 30, 2014}} and advocated for investment in socially and environmentally conscious businesses and for businesses with increased standards of financial disclosure.{{cite web|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2000/01/17/MN22704.DTL&hw=Angelides+emphasizes+housing+human+rights&sn=001&sc=1000 |title=California Treasurer Backs Social Investments / Angelides emphasizes housing, human rights |publisher=SFGate |date=January 17, 2000 |access-date=April 16, 2015}}{{cite web|url=http://www.californiaprogressreport.com/2006/04/angelides_celeb.html |title=Angelides Celebrates Earth Day and Green Investment Initiative - California Progress Report |access-date=June 18, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20071110161751/http://www.californiaprogressreport.com/2006/04/angelides_celeb.html |archive-date=November 10, 2007 }} For example, in April 2006 CalSTRS board members unanimously supported Angelides' motion to divest from Sudan to pressure an end to the government-backed genocide in Sudan.McIntosh, Andrew. [http://www.angelides.com/news/philinthenews/2006_0407_sacbee.html Cutting Sudan stocks backed. CalSTRS, pressured by students, takes a step to cut holdings in war-torn nation.] {{webarchive |url=https://web.archive.org/web/20061213225544/http://www.angelides.com/news/philinthenews/2006_0407_sacbee.html |date=December 13, 2006 }} Sacramento Bee, April 7, 2006.

His Green Wave Initiative invested $950,000,000 into environmental businesses and technologies{{cite web|url=http://www.treasurer.ca.gov/greenwave/update.pdf |title=Archived copy |access-date=September 4, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20110930101708/http://www.treasurer.ca.gov/greenwave/update.pdf |archive-date=September 30, 2011 }} and his Double Bottom Line Initiative invested 14 billion dollars into inner-city and underserved communities.{{cite web|url=http://www.treasurer.ca.gov/publications/dbl/five_years.pdf|title=Microsoft PowerPoint - 8-05 DBL five years|date=October 1, 2005|publisher=Treasurer.ca.gov|access-date=April 16, 2015|url-status=dead|archive-url=https://web.archive.org/web/20130513025930/http://www.treasurer.ca.gov/publications/dbl/five_years.pdf|archive-date=May 13, 2013}}

In 2003, the CalPERS investment committee approved of Angelides' Investment Protection Standards, which require that investment banking firms who do business with CalPERS separate their research and investment banking practices.[http://www.treasurer.ca.gov/news/releases/2003/20030818_protect.pdf Treasurer Angelides Wins CalPERS Approval of Key Shareholder Protection Initiative.] {{webarchive |url=https://web.archive.org/web/20060924082632/http://www.treasurer.ca.gov/news/releases/2003/20030818_protect.pdf |date=September 24, 2006 }} News release, August 18, 2003. New York State Attorney General Eliot Spitzer complimented Angelides' plan saying, "I applaud Treasurer Angelides for his actions.

Today's announcement is an important first step in ensuring that these reforms become the new market standard."{{cite web|url=http://www.treasurer.ca.gov/news/releases/2003/20030508ips.pdf |title=Archived copy |access-date=August 8, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20110930101624/http://www.treasurer.ca.gov/news/releases/2003/20030508ips.pdf |archive-date=September 30, 2011 }} Angelides, along with 10 other state treasurers and controllers, called on the SEC to approve

a rule giving shareholders the right to nominate candidates for corporate boards of directors.{{cite web|url=http://www.treasurer.ca.gov/news/releases/2004/052704_voting.pdf |title=Archived copy |access-date=August 8, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060924092322/http://www.treasurer.ca.gov/news/releases/2004/052704_voting.pdf |archive-date=September 24, 2006 }}

A 2008 CalSTRS report stated that the two funds had collectively missed an estimated $1 billion in profits due to their decision, advocated by Angelides early during his tenure, to divest from tobacco companies.{{cite web |title=The Pension Fund That Ate California |url=http://www.city-journal.org/2013/23_1_calpers.html |first=Steven |last=Malanga |publisher=City Journal |date=Winter 2013}} A 2007 CalPERS report estimated that the funds lost an estimated $400 million due to a decision, again advocated by Angelides, to divest from companies located in India, Thailand, and China due to their labor practices.

On October 27, 2023 he was named to the Climate United Board of Directors (see [http://web.archive.org/web/20231103213221/https://calvertimpact.org/about/press/climate-united-announces-inaugural-board-of-directors wayback machine]

{{main|2006 California gubernatorial election}}

Image:AngelidesKerry.jpg, Angelides, John Kerry, Cruz Bustamante and Fabian Núñez at a rally for Angelides' gubernatorial campaign]]

In early 2005, Angelides announced his intention to run against the current Governor Arnold Schwarzenegger in 2006, having made little secret of his ambition for the Governor's Office from the time that Schwarzenegger was elected in 2003.[http://www.signonsandiego.com/uniontrib/20050316/news_1n16phil.html Angelides, frequent Schwarzenegger critic, starts campaign to be governor] The San Diego Union-Tribune On April 29, 2006, Angelides was endorsed by the California Democratic Party at the California State Democratic Convention in Sacramento. Despite this, polls from around that time showed that his opponent in the race, California State Controller Steve Westly, had an advantage in the primary. Angelides then won the endorsements of the Sacramento Bee{{cite web|url=http://www.sacbee.com/content/opinion/editorials/story/14255222p-15070591c.html |access-date=May 18, 2006 |title=The Wayback Machine has not archived that URL.}}{{dead link|date=May 2016|bot=medic}}{{cbignore|bot=medic}} and the Los Angeles Times,{{cite web|url=https://www.latimes.com/news/politics/elections/editorials/la-ed-governor14may14,1,3674918.story |title=Governor: Phil Angelides |work=Los Angeles Times |date=May 14, 2006 |access-date=April 16, 2015}} two of California's largest newspapers, and the California League of Conservation Voters,{{cite web|url=http://www.ecovote.org/news/angelides.html |title=CLCV Announces Endorsement of Phil Angelides for Governor | California League of Conservation Voters (CLCV) |publisher=Ecovote.org |date=September 18, 2006 |access-date=April 16, 2015}} after a head-to-head debate with Westly. He also received the endorsement of the liberal San Francisco Bay Guardian.{{webarchive |date=June 29, 2006 |url=https://web.archive.org/web/20060629222817/http://www.sfbg.com/endorsements/33end-state.html}} A Field Poll held on June 2, 2006, had Westly leading Angelides by one percentage point, 35% to 34% with 26% undecided.{{cite web|last=Marelius |first=John |url=http://www.signonsandiego.com/news/politics/20060604-9999-1n4elect.html |title=> News > Politics - Election fatigue could make polls a lonely place |publisher=SignOnSanDiego.com |date=June 4, 2006 |access-date=April 16, 2015}}

Angelides was also endorsed by former vice president Al Gore,{{webarchive |date=May 22, 2011 |url=https://web.archive.org/web/20110522015833/https://www.latimes.com/news/local/politics/cal/la-me-lopez18oct18,1,2257296.column?page=2&coll=la-center-politics-cal}} New York Attorney General Eliot Spitzer, Senators Barbara Boxer and Dianne Feinstein, Former Massachusetts Governor and 1988 Democratic Presidential nominee Michael Dukakis, United States Senator from Massachusetts and 2004 Democratic Presidential nominee John Kerry, Assembly Speaker Fabian Núñez, California Lieutenant Governor Cruz Bustamante, Mayor of Los Angeles Antonio Villaraigosa, Minority Leader Nancy Pelosi, the California Labor Federation, the California Teachers' Association, the California Professional Firefighters, the California Sierra Club, California League of Conservation Voters, California NOW, Vote the Coast and Clean Water Action. Following his primary defeat on June 6, California State Controller Steve Westly endorsed the victorious Angelides as did Assemblyman Mark Leno and San Francisco Supervisor Fiona Ma.{{cite web|url=http://www.angelides.com/endorsements/ |title=Phil Angelides for Governor Endorsement List |access-date=August 8, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060809161107/http://www.angelides.com/endorsements/ |archive-date=August 9, 2006 }}

For a time, Angelides used California Democratic Party political operative Bob Mulholland.{{Citation needed|date=July 2018}}, and Political media consultants Sidney Galanty and Mark Galanty.

On July 7, 2006, Angelides expressed his support for gay rights, and pledged to legalize same-sex marriage if elected governor, stating "I would sign the marriage equality bill because I believe if we can get behind people to build a lasting relationship, that is a good thing."{{cite web|author=LISA LEFF, Associated Press Writer |url=http://insidebayarea.com/localnews/ci_4024840 |title=Angelides says he would sign gay marriage bill |publisher=Inside Bay Area |access-date=April 16, 2015}}

Angelides also called for reducing tax breaks for corporations and individuals earning $500,000 or more per year, in a plan to earn revenue to increase funding for public K-12 education and higher education. The plan would halt and repeal increases made in the tuition fees of the University of California system, and the California Community College system.[http://www.signonsandiego.com/uniontrib/20060525/news_1n25phil.html Raising taxes will help education, treasurer says] The San Diego Union-Tribune He stated his opposition to sending National Guard troops to the California-Mexico border and wanted to seek closer ties with the then-President of Mexico, Vicente Fox.{{cite web|url=http://www.insidebayarea.com/oaklandtribune/localnews/ci_3867857 |title=Angelides: Play nice with Mexico |publisher=Inside Bay Area |date=May 26, 2006 |access-date=April 16, 2015}} This plan was criticized by his opponents as a tax hike.{{cite web|author=Garry South |url=http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2006/11/08/EDG6PKE1EA1.DTL |title=Why Phil Angelides lost |publisher=SFGate |date=November 8, 2006 |access-date=May 30, 2014}}

On May 22, 2006, Angelides announced his support for Vinod Khosla's Clean Alternative Energy Initiative (prop. 87), which would assess oil company profits by $4 billion over the next ten years and use the proceeds to invest into research for alternative energy such as ethanol.{{cite web|url=http://www.yeson87.org/page/content/aboutus/ |title=Russian Beautiful women - marriage agency Ukraine brides in Odessa Ukraine - single russian women |access-date=July 19, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20100112050239/http://www.yeson87.org/page/content/aboutus/ |archive-date=January 12, 2010 }}

On May 23, 2006, Angelides wrote Barbara Boxer, a member of the Senate Committee on Commerce, Science and Transportation, urging her to support net neutrality.{{cite web|url=http://angelides.com/issues/net-neutrality.html |title=Network Neutrality |access-date=June 25, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060621213507/http://angelides.com/issues/net-neutrality.html |archive-date=June 21, 2006 }}

Angelides also endorsed the Clean Money Initiative (Prop. 89), which would provide public financing to candidates who can obtain at least 750 $5 contributions from voters and who have participated in at least one primary and two general election debates.{{cite web|url=http://www.angelides.com/media/releases/2006_0803_prop89.html |title=Angelides Endorses Clean Money Initiative |access-date=August 9, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060830183638/http://www.angelides.com/media/releases/2006_0803_prop89.html |archive-date=August 30, 2006 }} It would also place new restrictions on contributions and expenditures by lobbyists and corporations.{{cite web|url=http://www.ss.ca.gov/elections/elections_j.htm#2006General |title=California Secretary of State - Elections & Voter Information - Initiative Update |access-date=August 9, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060809161321/http://www.ss.ca.gov/elections/elections_j.htm#2006General |archive-date=August 9, 2006 }}

Angelides presented himself as a more progressive and liberal candidate, and accused Westly of working too closely with Governor Arnold Schwarzenegger. Westly accused Angelides of being an anti-environment real estate developer. Westly's ads in that matter were later criticized by the executive directors of Vote the Coast, Sierra Club, California League of Conservation Voters, and California Coastal Protection Network in a letter saying "All of the environmental organizations who do endorsements believe Phil has the vision to be the greenest governor California has ever had."

On June 6, 2006, Angelides won the Democratic primary over Westly with 48 percent of the vote over his opponent's 43 percent.{{cite web|url=http://vote.ss.ca.gov/Returns/gov/00.htm |title=Vote2006 |access-date=June 23, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060623125421/http://vote.ss.ca.gov/Returns/gov/00.htm |archive-date=June 23, 2006 }}

On August 16, Angelides announced his plans to cut taxes by $1.4 billion for California's middle class and small businesses.{{cite web|url=http://www.angelides.com/media/news/2006_0817_latimes.html |title=Angelides Proposes Tax Cuts |access-date=August 27, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060830202902/http://www.angelides.com/media/news/2006_0817_latimes.html |archive-date=August 30, 2006 }}

An unauthorized MySpace web page{{cite web|url=http://www.salon.com/wire/ap/archive.html?wire%3DD8JIAEPO2.html |title=Archived copy |access-date=August 17, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20070929141151/http://www.salon.com/wire/ap/archive.html?wire=D8JIAEPO2.html |archive-date=September 29, 2007 }} for Angelides was embraced by his campaign. During the Democratic primary, both Angelides and Westly used MySpace to rally supporters and spread their messages to potential voters.

He stated his intent to increase high school funding by $200,000,000 to hire more counselors in high schools and middle schools as well as increasing admission quotas for the UC and CSU systems by 20,000 students. He has stated that he would "seriously consider" lowering the minimal voting age from 18 to 16 if elected governor.{{cite web|url=http://www.smartvoter.org/2006/06/06/ca/state/vote/angelides_p/paper1.html |title=College Opportunity for All |publisher=Smartvoter.org |access-date=April 16, 2015}}{{cite web|url=http://www.californiachronicle.com/articles/viewArticle.asp?articleID%3D4609 |title=California Chronicle: CALIFORNIA TREASURER ANGELIDES UNVEILS PLAN TO PROVIDE COLLEGE OPPORTUNITY FOR ALL |access-date=June 24, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20061027024007/http://www.californiachronicle.com/articles/viewArticle.asp?articleID=4609 |archive-date=October 27, 2006 }}{{cite web |author=DiggaSlidwell |url=http://www.calitics.com/showDiary.do?diaryId=576 |archive-url=https://web.archive.org/web/20080829083325/http://www.calitics.com/showDiary.do?diaryId=576 |archive-date=August 29, 2008 |title=SF League of Pissed Off Voters Endorsments [sic] |publisher=Calitics |date=May 31, 2006 |access-date=April 16, 2015}}

On September 7, 2006, it was revealed that Governor Arnold Schwarzenegger referred to Latino Republican Assemblymember Bonnie Garcia as being fiery and hot-tempered because "black blood" mixed with "Latino blood" equals "hot". He further stated "I mean, they [Cubans and Puerto Ricans] are all very hot...they have the, you know, part of the black blood in them and part of the Latino blood in them and together that makes it."

It was a front-page story on the Los Angeles Times and was revealed by reporter Robert Salladay. Schwarzenegger then apologized for the remarks the next day, in a joint press conference with Garcia in Santa Monica.{{webarchive |date=March 12, 2007 |url=https://web.archive.org/web/20070312050559/http://www.baltimoresun.com/news/nationworld/bal-te.arnold09sep09,0,122152.story?coll=bal-nationworld-headlines}}

A few days later, the Schwarzenegger campaign claimed that it was the victim of a breach of security protocols, and Andrea Lynn Hoch, Schwarzenegger's legal affairs secretary stated that the file was stored "in a password-protected area of the governor's office network computer system." The California Highway Patrol was asked to investigate.

On September 13, it was discovered that the recording was obtained by members of the Angelides campaign on August 29 and 30 stored in an MP3 file and that campaign researcher Sean Sullivan and press spokesman Dan Newman submitted it to the Los Angeles Times. Katie Levinson, a spokeswoman for the Schwarzenegger campaign wanted Angelides to "denounce the unethical actions taken on his behalf", stating that he was trying to personally smear Schwarzenegger.{{cite web|author=Tom Chorneau and Lynda Gledhill |url=http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/09/12/MNGSOL43OV4.DTL |title=Angelides campaign staffer downloaded guv's comments / CHP investigating whether audio file was obtained illegally |publisher=SFGate |date=September 12, 2006 |access-date=May 30, 2014}}

In response to the claims from Schwarzenegger's camp, Angelides campaign manager Cathy Calfo dismissed the claims as being politically motivated and "completely false." In regards to the recording she stated: "What I have been told is, there was information accessed by one of our computers off of a taxpayer-funded, publicly available Web site that any member of the public would have access to..."{{webarchive |date=May 21, 2011 |url=https://web.archive.org/web/20110521133418/https://www.chron.com/disp/story.mpl/ap/nation/4181081.html}} She also expressed regret that Sullivan and Newman submitted the tape without consulting with other members of the campaign.{{cite web|url=https://www.latimes.com/news/local/politics/cal/la-me-gov13sep13,1,6440037.story?coll=la-news-politics-california |title=Gov. Sails On as Foe Hits the Shoals - Los Angeles Times |work=Los Angeles Times |date=September 13, 2006 |access-date=May 30, 2014}}

According to The Inquirer, the supposed URL where the recording was taken from is http://speeches.gov.ca.gov/dir/06-21.htm{{dead link|date=September 2017 |bot=InternetArchiveBot |fix-attempted=yes }} (now offline){{cite web |url=http://www.theinquirer.net/default.aspx?article=34336 |archive-url=https://archive.today/20130222063953/http://www.theinquirer.net/default.aspx?article=34336 |url-status=unfit |archive-date=February 22, 2013 |title=Democrat rival admits 'hacking' Schwarzenegger |publisher=The Inquirer |date=September 13, 2006 |access-date=May 30, 2014 }}

Roger Salazar, a California Democratic Party spokesman also was quoted as saying - "They want to put it off onto some massive conspiracy theory... The governor's office is trying to play up the nefarious angle to deflect attention from their own incompetence — accidentally posting the recording on its own Web site. And from the recordings themselves."{{cite web|url=http://www.californiaprogressreport.com/2006/09/angelides_campa.html |title=Angelides Campaign Downloaded Schwarzenegger Comment, Says It Was Available to the Public. Governor's Office Says it was "Unauthorized." - California Progress Report |access-date=October 21, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20070509223257/http://www.californiaprogressreport.com/2006/09/angelides_campa.html |archive-date=May 9, 2007 }}

In early 2007, the CHP issued a report clearing the Angelides campaign and Sullivan and Newman of any wrongdoing.{{cite web|url=http://www.sgvtribune.com/news/ci_5150296 |title=CHP clears Angelides camp in flap over Web audio files - SGVTribune.com |access-date=October 5, 2007 |url-status=dead |archive-url=https://web.archive.org/web/20120208085739/http://www.sgvtribune.com/news/ci_5150296 |archive-date=February 8, 2012 }} The CHP concluded in its 38-page report that the digital audio files were placed on a website that was "accessed by backwards browsing ... which does not constitute a crime."{{cite web|url=http://sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=14&entry_id=13186 |title=CHP: Security Lax on Guv's Web Site; No Crime Occurred in Tapegate - Politics Blog |publisher=Sfgate.com |date=May 23, 2014 |access-date=May 30, 2014}} The CHP recommended that no criminal charges be filed against anyone involved in "Tapegate".

In the 2006 California gubernatorial election, incumbent governor Schwarzenegger defeated Angelides in a landslide. Due to lack of name recognition, Angelides was considered an unknown by comparison. His campaign did not air a single biographical ad until very late into the campaign.

In the Democratic primary, Steve Westly spent $43 million ($35 million was of Westly's own fortune), compared to Angelides' $28.1 million (though an additional $10.4 million though independent campaigns on Angelides' behalf helped narrow the gap with Westly). Schwarzenegger spent around $42 million during the whole of 2006, likely most of it in the general election as he did not face a serious primary challenge, while Angelides was estimated to only spend around $10 million after winning the nomination.{{cite web|url=https://www.latimes.com/news/local/politics/cal/la-me-money9nov09,0,397013.story?coll=la-center-politics-cal |access-date=November 9, 2006 |title=Deep pockets carry the day |website=Los Angeles Times |date=November 9, 2006 }}{{dead link|date=May 2016|bot=medic}}{{cbignore|bot=medic}}

Garry South, Steve Westly's campaign manager, stated Angelides' attacks on Schwarzenegger came across as boastful and partisan to the electorate. The attacks failed to register and perhaps backfired, because Angelides' failed to take into account Schwarzenegger shift back to the political center, moderating his policies and returning to close co-operation with the Democratic-dominated assembly since his widely unsuccessful 2005 special election.

According to campaign aides, Angelides was said to have micromanaged his campaign, down to minute and esoteric details such as paper shredders and the color of briefing papers.

After his defeat, Angelides stated that he would stay involved in California politics, not ruling out another run for governor or other statewide office.

Angelides was interviewed in the documentary Meltdown on the 2008 financial crisis, where he blamed the crisis on banks lending out loans to people who clearly couldn't afford to pay them back.

Angelides was appointed president of AKT Development Corp. (a company owned by one of his business mentors, Angelo Tsakopoulos) in 1984. In 1986, Angelides founded his own land development company, River West. Angelo Tsakopoulos, Angelides' former business partner, has been a major campaign donor to California office-holders, who, together with Angelides as chair of the California Democratic Party in the early 1990s, disbursed millions of dollars to Democratic candidates. Tsakopoulos has donated over $3,200,000 to Angelides' campaigns beginning in 1993 and for the 2006 gubernatorial race, Tsakopoulos has donated $3,750,000 to Mr. Angelides with his daughter, Eleni Tsakopoulous-Kounalakis donating $1,250,000.{{cite web |url=http://www.sacbee.com/content/politics/ca/election/story/14246572p-15064424c.html |title=Developers pump up Angelides campaign |url-status=dead |archive-url=https://web.archive.org/web/20060513233612/http://www.sacbee.com/content/politics/ca/election/story/14246572p-15064424c.html |archive-date=May 13, 2006 }}

Angelides' development firm, River West, is most known for development in a floodplain{{cite news | url=http://www.metroactive.com/papers/metro/01.18.06/angelides-0603.html | title=Governor Who? | date=January 18, 2006 | work=Metro Silicon Valley | first=Peter | last=Byrne}} called Laguna West, which is located outside Sacramento in Elk Grove, California. Laguna West was one of the first developments designed along the principles of New Urbanism. For this project, as well as his history of promoting New Urbanism, Angelides was honored with a Lifetime Achievement Award from the [https://web.archive.org/web/20190911030238/https://www.cnu.org/ Congress for the New Urbanism] on June 11, 2005. However, since completion, the development at Laguna West has been described as a "catastrophic failure"{{cite web |url=http://www.garrysouthgroup.com/garry-said/angelides-must-be-kidding-about-laguna-west/ |title=Angelides Must Be Kidding About Laguna West |publisher=Garry South Group |date=April 6, 2006 |access-date=May 30, 2014 |archive-url=https://web.archive.org/web/20140615033948/http://www.garrysouthgroup.com/garry-said/angelides-must-be-kidding-about-laguna-west/ |archive-date=June 15, 2014 |url-status=dead }} that replicates many of the features of conventional suburban sprawl.{{cite web|url=http://courses.washington.edu/gmforum/Readings/Richardson.pdf |title=Chapter 13 : U.S. Population and Employment Trends and Sprawl Issues |publisher=Courses.washington.edu |access-date=April 16, 2015}}{{cite book|url=https://books.google.com/books?id=RQN0OXl02qMC&q=laguna+west+sprawl&pg=PA58 |title=Suburban Sprawl: Culture, Theory, and Politics - Matthew J. Lindstrom, Hugh Bartling - Google Books |access-date=April 16, 2015|isbn=9780742525818 |last1=Lindstrom |first1=Matthew J. |last2=Bartling |first2=Hugh |year=2003 }} The Sierra Club has described Laguna West as a "conventional suburb."{{cite web|url=http://www.sierraclub.org/sierra/199705/gates.asp |title=Sign Up For The Green Life |publisher=Sierraclub.org |access-date=April 16, 2015}}

On July 15, 2009, Angelides was named Chairman of the bi-partisan 10-member Financial Crisis Inquiry Commission. The Commission was created by a law passed by Congress and signed by President Obama in May 2009 and was charged with investigating the events that led to the monumental 2008 collapse of the financial markets.{{cite web|url=http://fcic.law.stanford.edu/about/history |title=About the Commission: History of the Commission : Financial Crisis Inquiry Commission |publisher=Fcic.law.stanford.edu |access-date=April 16, 2015}} The Commission was mandated with reporting back to Congress by the end of 2010, "with a series of conclusions about what occurred, and recommendations as to how to avoid future market breakdowns.""Angelides, Thomas to Lead Financial-Crisis Probe", Wall Street Journal, July 15, 2009

The Commission presented its report to the president and Congress in January 2011,{{cite web|url=http://fcic-static.law.stanford.edu/cdn_media/fcic-news/2011-0127-fcic-releases-report.pdf |title=Financial Crisis Inquiry Commission Releases Report on the Causes of the Financial Crisis |publisher=Fcic-static.law.stanford.edu |access-date=April 16, 2015}} concluding that the crisis was avoidable and was caused by widespread failures of regulation, excessive risk taking by Wall Street, government leaders ill-prepared for crisis, and systemic breaches in accountability and ethics.{{cite web|url=http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_conclusions.pdf |title=Conclusions of the Financial Crisis Inquiry Commission |publisher=Fcic-static.law.stanford.edu |access-date=April 16, 2015}} The report made the New York Times{{cite news|url=https://www.nytimes.com/best-sellers-books/2011-02-20/paperback-nonfiction/list.html?date=2011-02-20&category=paperback-nonfiction&pagewanted=print |title=Best Sellers - The New York Times |work=The New York Times |date=February 20, 2011 |access-date=April 16, 2015}} and Washington Post{{cite web|last=Schoppa |first=Christopher |url=http://voices.washingtonpost.com/political-bookworm/2011/02/book_world_-_february_6_2011_1.html |archive-url=https://web.archive.org/web/20110630234222/http://voices.washingtonpost.com/political-bookworm/2011/02/book_world_-_february_6_2011_1.html |url-status=dead |archive-date=June 30, 2011 |title=Political Bookworm - BOOK WORLD - February 6, 2011 |publisher=Voices.washingtonpost.com |access-date=April 16, 2015}} best sellers lists and The New York Review of Books hailed it as "the most comprehensive indictment of the American financial failure that has yet been made" and "the definitive history of this period."{{cite journal|url=http://www.nybooks.com/articles/archives/2011/apr/28/wall-street-leviathan/?pagination=false |title=The Wall Street Leviathan by Jeff Madrick | The New York Review of Books |journal=The New York Review of Books |publisher=Nybooks.com |date=April 28, 2011 |access-date=April 16, 2015|last1=Madrick |first1=Jeff }}

{{trivia section|date=December 2019}}

• In a 2000 episode of The Simpsons entitled "Pygmoelian", there is a character who takes Moe's picture for the Duff calendar, introduced by Duffman as "Duff's Vice President in charge of calendars and fake IDs, Phil Angelides." When asked about the episode, the real-life Angelides acknowledged Simpsons creator Matt Groening as "a friend" and said "By the way, that made me very popular among my three daughters. It raised my hip status among all my daughters and their friends."{{cite web|url=http://basie.blogspot.com/2005/05/basie-interview-with-ca-treasurer-phil.html |title=Basie!: Basie! Interview with CA Treasurer Phil Angelides |access-date=June 10, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20060506225029/http://basie.blogspot.com/2005/05/basie-interview-with-ca-treasurer-phil.html |archive-date=May 6, 2006 }}{{cite web|url=http://www.animationartist.com/General_News/MarNews00/marnews00.html |archive-url=https://web.archive.org/web/20000816093857/http://www.animationartist.com/General_News/MarNews00/marnews00.html |url-status=usurped |archive-date=August 16, 2000 |title=MarNews00 |publisher=Animationartist.com |access-date=April 16, 2015}}

According to seized Enron emails, during the California energy crisis, Jeff Dasovich, Enron's Director for State Government Affairs,{{cite web|url=http://www.lawseminars.com/htmls/seminars/resca/faculty.htm |title=Restructuring in California Faculty |publisher=Lawseminars.com |access-date=April 16, 2015}} called Angelides a "chowder head" and said that he was throwing a "tantrum" after Angelides wrote a [https://web.archive.org/web/20060924081735/http://www.treasurer.ca.gov/news/releases/2001/101901puc.pdf letter] to the president of the CPUC, urging the commission to end direct access for large business energy consumers.{{cite web|url= https://threads.cloud/resource/threads-enron-database/ |title=And all about finance scams |access-date=April 16, 2015}}

{{Reflist}}

• [https://philangelides.com/ Official website of Phil Angelides]
• [https://fraser.stlouisfed.org/author/5529 Works by or about Phil Angelides]
• {{C-SPAN}}

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