Street has been accused, in separate incidents, of mismanaging a corporate bankruptcy trust and using a false document to circumvent the county’s bidding process for an architectural contract, and he is involved in private lawsuits over the bankruptcy case. In a news conference Monday he denied any wrongdoing, refused to resign and told the media he has saved money and improved efficiency and investment returns since taking office this year.
Although Street has not been officially charged with anything, Berardino said public confidence in the treasurer has been “irreparably damaged.”
“This is not a question of guilt or innocence,” he said. “Relying on the possibility that Mr. Street is innocent is an investment that the taxpayers of Orange County can’t afford.”
Berardino specifically called on the Orange County GOP, Democrats and Libertarians, and Republican fundraising groups the New Majority and the Lincoln Club to join the recall effort. A petition would need at least 150,000 voters’ signatures to qualify for the ballot.
Republican support will be key to success, but the immediate response from GOP groups was minimal. The treasurer’s office is nonpartisan, but Street is a Republican.
“At this point in time I’m deferring to the all-Republican elected board of supervisors, and I’m going to wait and see the outcome of the hearing that intends to strip him of his investment authority,” Orange County GOP Chairman Scott Baugh said. Supervisors are expected to vote Sept. 11 on whether Street should retain control of the county’s $7-billion investment portfolio.
