Oregon Public Broadcasting

One of the feistiest races this primary season wasn't even supposed to be happening.

The state treasurer's race only started March 7th -- after Ben Westlund passed away from cancer.

Westlund had two years left in his term, and he kept his recent health problems quiet. So his death left candidates with just two days to scramble to meet the filing deadline.

Meet the deadline they did. But then as Kristian Foden-Vencil reports, an investigation into the actions of some treasury employees pumped yet more excitement into the race.

Within 48 hours of Westlund's death, the chairman of the Multnomah County Commission, Ted Wheeler, had been appointed to succeed him.

For an up-and-coming politician, that meant he could reap the benefits of incumbency in the run-up to the election.

But rather than learning the ropes and hugging a few babies in that run-up, Wheeler was immediately informed The Oregonian newspaper was investigating the perks enjoyed by some of his employees.

Ted Wheeler: "I asked my chief of staff, Tom Reinhart, to sit in on one of the meetings. Based on the information we gathered from that meeting, it was very clear to me that I needed to take action."

The Oregonian found that employees traveling to monitor the state's investment portfolio, regularly accepted free meals at fancy restaurants and then got reimbursed by the state.

There were also first-class airline tickets, paid for by the investment firms wooing the state -- and free golf games.

Wheeler says he's cracked down. So now, for example, there will be no more reimbursement for free meals and it's coach-class only.

Ted Wheeler: "Travel will only be in support of the duties of investment officers. That means that if there are any other entertainment or opportunities provided to our investment officers, whether it be music, golf, those services will no longer be paid for. If investment officers wish to participate in those activities they still may. But they have to pay for it out of their own pockets."

The bust-up has given Wheeler opportunity to portray himself as a  forceful treasurer wrestling with state investment officers, who are each pulling down $200,000 salaries.

But the other Democrat in this primary, state senator Rick Metsger, doesn't think Wheeler's doing a very good job.

Rick Metsger: "I'm disappointed that clear and decisive action has not taken place. and in fact just the opposite. It has been reactionary to everything in the newspaper. Mr. Wheeler comes up with another proposal or another commission. I think he has two commissions now."

Metsger says he has a five point plan for dealing with the scandal. Details are on his website, but in a nutshell he wants to make treasury employees subject to the same ethics laws as every other public official in Oregon.

Beyond the ethics issue, Metsger says he has three goals as treasurer: investing state money in businesses that are clear and open about what they're doing; helping the state create more jobs; and making sure school children learn about the financal challenges of adult life -- like mortgages and credit cards.

Rick Metsger: "What we're electing is a leader on policy that can move the state forward under the realm of the state treasury's responsibilities."

While there are two Democrats in this primary, there's only one Republican. Consequently, State Senator Chris Telfer will face either Rick Metsger or Ted Wheeler in November.

But like Metsger, she also thinks Wheeler should be tougher on treasury staff.

Chris Tefler: "I think I would have been a little bit more assertive in saying this is not going to happen anymore. We will book our own flights. We will pay our own way. Sometimes there's no need to go visit a money manager. I mean I know how to read a balance sheet. I know my way around a financial statement pretty well. I don't necessarily to be on site in New York City to know how well my money managers are doing with my money."

Tefler is a Certified Public Accountant from Bend, who owns a practice catering to non-profits. She says she would bring unique skills to the position.

Chris Tefler: "CPAs that's what we do for a living. We account for transactions. we show other people how to do it and we also analyse and over see the way transactions are accounted for. And I think that's exactly what that office needs.  In the past they have just been public officials who've been put in that position. And I do think I have unique skills to bring to that office that are very much needed."

Back in Salem, much of Wheeler's time has been spent dealing with the reimbursement scandal. But he says he also wants to use the position to bring more accountability to corporate America.

Ted Wheeler: "Treasurers as people who understand investment management, need to stand up, and I already have, and support thoughtful reforms of Wall Street that make sense."

The primary is May 18th.