Opinion: The problem with the state treasurer race
The California treasurer is one of the state’s most important positions given that this elected official serves as the state’s top asset manager and financier. The treasurer needs not only the requisite investment experience, but a reputation for probity and an unparalleled commitment to transparency.
Incumbent Treasurer Fiona Ma, a Democrat, is facing off against Orange Supervisor Andrew Do, the key Republican opponent. The ballot also includes two longshot candidates — Cudahy Councilman Jack Guerrero, a perennial GOP candidate with virtually no funding, and Meghann Adams, whose school bus-driver background and self-described socialist views are a poor fit for managing a $3.2-trillion portfolio.
Serrano earns $500,000 a year from taxpayers, but works entirely on union business. Ma agreed to author legislation that would have allowed his union-related work to become pensionable. During the process, the police union just happened to become one of her top campaign contributors. Instead of fessing up, Ma portrayed her efforts as public-spirited.
Ma’s odd decision to share hotel rooms with staff came under scrutiny after a former staffer sued her for sexual harassment and wrongful termination — allegations Ma denies. In terms of her official duties, she defends the indefensible bullet train and seems unconcerned about pension liabilities.The state in 2020 closed a money-laundering investigation of Do and the local GOP after finding “insufficient evidence” of any campaign violations.