Californians Pick Bailout Chief Kashkari to Oppose Brown

Republican Neel Kashkari, a political newcomer who ran the federal bailout of the U.S. banking system, will challenge incumbent Democrat Jerry Brown for governor of California in November, the Los Angeles Times reported.

Kashkari outpolled state Assemblyman Tim Donnelly, a Tea Party favorite, in a new primary election system that sends the top two vote-getters, regardless of party, to the general election. Donnelly conceded early today, the Times said.

Kashkari led Donnelly, 18.6 percent to 14.9 percent, with 71 percent of precincts counted, the Associated Press said. Brown won the primary with about 55 percent of the vote.

Before it's here, it's on the Bloomberg Terminal.