EDITORIAL : MONEY DOESN'T MEAN SUCCESS; WEALTHY POLITICIANS LOSE AGAIN.

IF money is the mother's milk of politics, why did all of the wealthy, self-financed politicians lose?

Obviously, money can't necessarily buy you love or votes in California.

In the state's first open primary, voters chose convention over flamboyance, status quo over business acumen.

Written off early in the governor's race as a lackluster campaigner and career politician, Lt. Gov. Gray Davis pulled off one of the most stunning come-from-behind victories in years.

Although he was outspent, he clearly connected with voters in a way that Al Checchi, who spent more than $30 million, and Congresswoman Jane Harman, who spent $15 million, could not. His slogan, ``Experience Money Can't Buy,'' resonated with the public - or perhaps Checchi and Harman turned them off.

The story was identical in the Republican race for U.S. Senate. Treasurer Matt Fong, a seasoned and intelligent politician but dull campaigner, bested car-alarm entrepreneur Darrell Issa, who sunk about $10 million of his own money into the race.

Although he had only token opposition in the open primary, Attorney General Dan Lungren, the Republican nominee who faces Davis in November, seems to have gleaned lessons in the free-spending primary.

``It looks like `virtual' campaigning is not the future of campaigning in California,'' Lungren told supporters. ``They want to hear from their candidates. They want their candidates to listen to them.''

That would be refreshing if true. It would be helpful if the candidates for governor agree to participate in open debates sponsored by nonpartisan groups and broadcast throughout the state at times when people actually watch television - in the evening.

Live debates held around California before the public, not just specially invited guests, would give voters a firsthand view of two men with opposing visions of the state.

Despite all the talk of campaign finance reform, the public didn't see the necessity of radically changing the law when they obviously can discern between money and message. That was the case in organized labor's successful and expensive fight to beat Proposition 226, which would have required unions to get permission annually from members to spend their dues and assessments in support of political candidates and causes.

Closer to home, some might be prone to believe race played a major issue in the apparent victory of Councilman Richard Alarcon over former Assemblyman Richard Katz in the Democratic race for state Senate.

That would be unfortunate. Alarcon didn't win solely because of a strong Latino vote. He won because he reached out to the entire community and got votes everywhere.

Much was made of a last-minute infusion of loans and contributions to Alarcon from state Sen. Richard Polanco, D-Los Angeles.

Intrusion of Eastside political mentalities into the Valley would be something to worry about, but politicians take money from anybody who will give it to them. The issue is whether they behave honorably and truly represent their constituents.

Alarcon has a long record of serving the San Fernando Valley and we are confident that he will represent the Valley with distinction if his lead holds up in the final tally and if he wins in November.