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.

Yet none of the treasurer candidates on the June 7 primary ballot inspires confidence or even passes the lowest bar. Given that elections offer finite choices, we try to endorse in all the major races, but we have no choice but to take a pass on this race.

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.

The race comes down to Ma and Do, both of whom almost certainly will face off in the general election. Let's start with the incumbent, who has been at the center of scandals that call into question her sound judgment. For starters, Ma tried to help controversial Santa Ana police union president Gerry Serrano boost his pension by $60,000 a year.

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 publicspirited.

Furthermore, Ma, who lives in San Francisco, billed taxpayers for her frequent Sacramento travel expenses, making her the “only statewide officer who consistently expensed her trips to Sacramento as full business trips throughout her first two years in office,” according to a Sacramento Bee investigation.

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.

Good Lord, but check out Do's baggage.

The state in 2020 closed a money-laundering investigation of Do and the local GOP after finding “insufficient evidence” of any campaign violations. Do was accused of moving cash through a GOP account to avoid disclosing the donor (and running afoul of contribution limits) — an allegation Do depicted as unfounded and politically motivated.

Yet the allegations spotlight a common complaint: secrecy. As this editorial board noted, “Do has for years limited the ability of residents to speak their mind” and “sought to squelch views he deems offensive.” He also stopped county staff from participating in public COVID-19 information sessions. Suffice it to say, Do is not the candidate of transparency.

We've also criticized his apparent efforts to exert political control over Caloptima, the county's healthcare provider for poor and disabled residents. There are no allegations of wrongdoing, but Voiceofoc interviewed health officials who expressed concern about politicization given past problems at the multibilliondollar agency.

We're not the only newspaper to decline to endorse in this race. We're used to choosing the lesser evil, but there are times when it's impossible to play along.