Free Republic

California officials conceded Monday that a legal challenge has severely hampered the ability of the state's stem cell agency to borrow even a penny of the $3 billion in research money it had hoped to raise over the next 10 years. Attorney General Bill Lockyer and Treasurer Phil Angelides said their offices are aggressively fighting the lawsuit while pursuing alternative ways for the California Institute for Regenerative Medicine to borrow money to fund medical research. "But we have a hard road to go here," Angelides said in Sacramento during a teleconference with reporters. Angelides is a member of a special...