GOP Treasurer Candidate Hits Rivals’ Ethics

Republican state treasurer candidate Angela (Bay) Buchanan criticized Democratic rival Kathleen Brown on Monday for a “clear ethics violation” in soliciting contributions from the investment banking community.

Since the bankers manage the state’s investment portfolio, Buchanan said, it is “blatantly unethical” for candidates running for treasurer to accept contributions from Wall Street officials.

Buchanan, a former U.S. treasurer from Irvine, said Brown is scheduled to hold a fund-raiser tonight that will include some investment banking officials.

Brown’s campaign office said the candidate was planning a fund-raiser in New York City, but they could not confirm whether it included investment bankers. Brown was unavailable for comment.

Buchanan has also complained about her Republican opponent, incumbent Treasurer Thomas Hayes, for raising money from Wall Street companies in New York.

In officially declaring her candidacy at a press conference here Monday, Buchanan again vowed that she will not accept any contributions from the investment banking community.

“I am the only candidate that can assure all Californians that, as treasurer, I will have no other agenda than to obtain the best possible deal for Californians,” Buchanan said.

“This is the day of political scandals, investigations, indictments and convictions,” she said. “Californians should not be asked to tolerate any more special interest influence in positions of public trust.”