Southern California News Group Endorses Lanhee Chen for State Controller
The Southern California News Group editorial board has endorsed Lanhee Chen for State Controller. SCNG owns 11 local daily newspapers in Southern California, including The Orange County Register, The Press-Enterprise, San Gabriel Valley Tribune, and Los Angeles Daily News.
An excerpt from their endorsement is below:
Endorsement: Lanhee Chen for California Controller
By The Southern California News Group Editorial Board
April 29, 2022
Link
Chen brings impressive credentials and the most independence to the role. He says he will use the audit power aggressively, including ordering audits of K-12 school districts, 75% of which have not met the requirements for financial reporting. He says Betty Yee has done nothing about this, and has instead been a caretaker, refraining from using the audit power of her office as it could be used to protect taxpayers.
The controller sits on numerous boards and commissions that oversee public funds, including the large and powerful pension funds, CalPERS and CalSTRS. Chen said the investments made by these funds should not be “avenues for social experimentation,” investing or divesting based on political pressure in a way that diminishes the value of the retirement funds because of political pressure. He said he has sometimes been alarmed by the lack of fiduciary responsibility.
While Galperin and Glazer also expressed the view that the fiduciary responsibility comes first and audits are needed, they are both part of the political party that controls all of state government. In a watchdog role, it is best to have someone from outside the power structure he or she is overseeing.