The state Republican Party has launched a television ad attacking state Insurance Commissioner John Garamendi for mishandling the collapse of the Executive Life Insurance Co. The ad targeting Garamendi, a Democrat running against Republican state Sen. Tom McClintock, R-Thousand Oaks, for lieutenant governor, began running Aug. 28 in the Sacramento and Los Angeles media markets. (snip) ANALYSIS: The GOP advertisement attempts to weaken Garamendi, a former gubernatorial candidate and statewide officeholder, by exploiting what is perhaps his greatest political vulnerability. Garamendi has long been dogged by criticism for allegedly mishandling the collapse of the Executive Life Insurance Co. In 1991,...