The state legislature's on the way to passing the "TRUST ACT," also called the "anti-Arizona" law. Should illegal immigrants be turned over to federal agents whenever they're picked up for minor offenses or only when they've committed serious crimes? The LA County Sheriff and LAPD are divided over a bill designed to blunt the effects of the federal crackdown called "Secure Communities." Also, Mayor Villaraigosa talks about the federal transportation bill -- what it means for Los Angeles and for his legacy. On our rebroadcast of today's To the Point, the LIBOR and why it matters.
FROM THIS EPISODE
The state legislature is considered likely to pass a measure called the Transparency and Responsibility Using State Tools – or TRUST Act, designed to blunt the impact of a controversial federal immigration program called "Secure Communities."
The latest global financial scandal may be the biggest of all, involving a benchmark used to set interest rates for contracts worldwide. It's the London Interbank Offered Rate, or LIBOR. As the world learns more about international banking, one public policy expert calls it a "cheating culture." We hear about the growing LIBOR scandal and what it might mean for $350 trillion in contracts -- from multi-national business and municipal government bonds down to mortgages and student loans.
Photo: Bob Diamond, then-CEO of Barclay's UK, speaks at the World Economic Forum Annual Meeting in Davos, Switzerland, January 27, 2012.
Kara Scannell, Financial Times (@KaraScannell)
George Nilson, City of Baltimore
William Cohan, Bloomberg (@williamcohan)
David Callahan, Inside Philanthropy (@Demos_Org)
Alex Pollock, American Enterprise Institute (@AEI)
William D. Cohan
Among American cities, Los Angeles often ranks first in commuter stress and hours wasted in traffic, but it's also first when it comes to cutting edge, forward thinking transportation planning. That's according to Canadian travel writer Taras Grescoe on the op-ed page of Saturday's LA Times. Last week, a Congress that's been notable for not getting anything done passed a transportation bill that will generate jobs putting by a lot of that planning into effect. Mayor Antonio Villaraigosa is getting a lot of the credit for successful lobbying.