commentary I loathe billionaires. But the former hedge fund manager could be a class traitor in the mold of FDR Published May 6, 2026 10:30AM (EDT) Billionaire and former hedge fund manager Tom Steyer is self-funding a run for California governor on a progressive platform (Eric Thayer / Los Angeles Times via Getty Images) As a progressive who watches too much television, when I see a Democratic candidate dominating the TV air war with ubiquitous campaign ads, I usually know that’s a Democrat I should oppose — the one being lavishly funded by wealthy corporate interests. And the ads are usually vapid and empty. Living in California these past months, I’ve had to adjust my normal mindset. Because a Democrat who is running for governor and dominating the airwaves has put out one substantive ad after another, calling for taxing the wealthy, breaking up utility monopolies and standing up to Big Oil. Each ad could have been released by Vermont Sen. Bernie Sanders — like the one featuring California Rep.…