Tag Archive for Chriss Street

Street Swept Under The Rug. AGAIN!

The Orange County Register’s Peggy Lowe reports today that Treasurer Chriss Street has been cleared in a contract probe by County CEO Tom Mauk, but several county workers are disciplined after purchasing process violations. Go Figure.  The executives at the top usually get away with the stuff they direct, while the mid-level managers and workers get…

County Union on Street: The other shoe has dropped!

Nick Berardino, GM of the Orange County Employees Association, has sent a letter to OC Board of Supes Chair John Moorlach weighing in on County Treasurer Chriss Street’s “Risky Investments.” Bottom line, he is again asking that the board remove Street’s power to manage the County Investment pool. I forget which board member wondered aloud…

Whistlejacket: Street’s risky investment of $80 million a loser

Last week I referenced a story in the OC Register by Ron Campbell about the failure of $80 million in “structured” investments the County has with a company called Whistlejacket. Today, the Register’s Ron Campbell reports that Street’s Whistlejacket troubles are getting worse. Whistlejacket is in receivership. A British court ruling indicates O.C. won’t get anything back until…

Experts: OC Likely to lose big on Street’s Investments

The Orange County Register’s Ron Campbell follows up today about the failure of one of the Structured Investment Vehicles (SIV) Whistlejacket. Chriss Street has invested $80 million in this investment which went into default last month. Orange County will probably lose some of the $80 million it sank into a defaulted investment, financial experts say. It’s “very unlikely”…

Hate to Be A “Told You So”

Tip of the hat to Red County/OC Blog for the latest episode of Treasurer-Tax Collector Chriss Street’s roller-coaster ride continues. The County of Orange has $80 million in a structured investment vehicle called Whistlejacket Capital. Unfortunately, Whistlejacket is in trouble. According to today’s Times of London: Standard Chartered has dropped attempts to rescue its $7.1…