California's State Treasurer is a little-known officer who deals with a lot of money. He or she oversees a $70 billion investment account, issues billions bonds for public works projects and sits on governing boards and commissions. The incumbent is Democrat Bill Lockyer, who's been in the Assembly, led the State Senate and was Attorney General for eight years. He's running for re-election. His Republican challenger is State Senator Mimi Walters, who was an investment banker before serving the maximum three terms in the upper house in Sacramento.