CMBS Pioneer Penner Launches Long-Shot Bid for California Governor

Ethan Penner, a prominent figure in the commercial mortgage-backed securities (CMBS) industry, has launched an independent bid to become the next governor of California. Penner is known for his role in pioneering the CMBS market, which has transformed the way commercial properties are financed. The announcement of his gubernatorial campaign comes as a surprise, as Penner is challenging the established political landscape in California. As an independent candidate, Penner faces an uphill battle against the major party candidates, but he hopes to offer a fresh perspective and alternative approach to addressing the state's pressing issues. While Penner's background is primarily in the financial sector, he aims to leverage his experience and expertise to tackle challenges such as the state's economy, housing crisis, and infrastructure. However, his bid is considered a long-shot, given the dominance of the Democratic and Republican parties in California politics.