"In 1994, Chriss Street was hailed as a hero for helping to blow the whistle on high-risk holdings in Orange County's investment portfolio, presaging the largest municipal bankruptcy filing in U.S. history. But now, in his year-old role as the county's treasurer, Street finds himself in the awkward position of having to defend some of his investment decisions. Street made a startling presentation to the Orange County Board of Supervisors this week, warning that $460 million in debt securities the county holds face a potential credit-rating downgrade -- raising the possibility that the county could lose money on them. . ."

We especially like the way Berthelsen set the scene at this week's Board of Supes meeting, with Street making like a gadfly and presenting during the public comment session.